Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698930607754.pdf (Malaysia)
A N N U A L R E P O R T L A P O R A N TA H U N A N 2021 OUR MISSION To develop and promote high quality accounting and financial reporting standards that are consistent with international best practice for the benefit of users, preparers, auditors and the public.

CONTENTS The contents of our annual report are divided into the English language and Bahasa Malaysia sections.
2021This page is intentionally left blank A N N U A L R E P O R T 2021 Acronyms and Abbreviations ACCA AOSSG Association of Chartered Certified Accountants Asian-Oceanian Standard-Setters Group AOSSG CAC AOSSG Chair's Advisory Committee ASAF BCUCC ED EEG EFRAG Accounting Standards Advisory Forum Business Combinations under Common Control Exposure Draft Emerging Economies Group European Financial Reporting Advisory Group FRF/Foundation Financial Reporting Foundation IAS IASB IFASS International Accounting Standards International Accounting Standards Board International Forum of Accounting Standard Setters IFR4NPO International Financial Reporting for Non-Profit Organisations IFRIC IFRS IFRSF KPI LHDNM LIAM MAIC MAIG IFRS Interpretations Committee International Financial Reporting Standards IFRS Foundation Key Performance Indicator Inland Revenue Board of Malaysia Life Insurance Association of Malaysia MFRS Application and Implementation Committee MFRS Application and Implementation Guide MASB/Board Malaysian Accounting Standards Board MFRS MIA MICPA MPERS NPO PIAM PIR SME SMEIG TAG TRG WG WSS Malaysian Financial Reporting Standards Malaysian Institute of Accountants The Malaysian Institute of Certified Public Accountants Malaysian Private Entities Reporting Standard Non-Profit Organisation Persatuan Insurans Am Malaysia Post-implementation Review Small and Medium-sized Entity SME Implementation Group Technical Advisory Group Transition Resource Group Working Group World Standard-Setters V Financial Reporting Foundation 2 0 2 1 Table of Contents Financial Highlights from 1997 to 2021 2021 Highlights Chairman's Statement – Financial Reporting Foundation Chairman's Statement – Malaysian Accounting Standards Board Financial Reporting Foundation Profiles of Members – Financial Reporting Foundation Malaysian Accounting Standards Board Profiles of Members and Advisors – Malaysian Accounting Standards Board Management and Technical Team Technical Work in 2021 MFRS Application and Implementation Committee (MAIC) Events in 2021 – Engaging the Stakeholders Result of Evaluation of Outcomes for 2021 (SPA 1/2012) Financial Statements – Financial Reporting Foundation 01 03 06 10 16 20 32 36 46 52 88 94 114 144 Financial Highlights from 1997 to 2021 INCOME YEAR EXPENDITURE YEAR SURPLUS / (DEFICIT) BEFORE TAX 1 YEAR 1 Financial Reporting Foundation 2 0 2 1 Financial Highlights from 1997 to 2021 ACCUMULATED SURPLUS / (DEFICIT) OF TOTAL COMPREHENSIVE INCOME 2,486 3,113 2,802 2,732 529 4,212 4,490 5,311 6,319 5,640 5,766 4,435 2,512 -58 -3,077 -5,617 -9,538 33,201 33,025 32,958 32,510 30,670 YEAR TOTAL ASSETS 34,504 35,045 36,059 35,664 36,619 36,207 34,695 32,736 30,187 27,218 24,677 -13,394 -17,137 -21,037 -24,796 -28,068 -31,221 -32,096 -32,000 20,821 16,854 13,114 18,399 14,141 12,272 12,419 11,375 11,330 YEAR 2 0 2 1 Financial Reporting Foundation 2 2 2021 Highlights The infographics illustrate all activities conducted and achieved throughout the year.
Technical Pronouncements: 15 Final Pronouncements Preface Preface to Technical Pronouncements and Guidance 7 MFRS Application and Implementation Guide (MAIG) MAIG 3 Preparation of consolidated financial statements for a group which had disposed of its only subsidiary during the financial year Islamic Financial Reporting: Issues Bulletin Issues Bulletin 3 Reporting Qard in the Takaful Fund Column within Takaful Entity Financial Statements 5 Amendments to MFRS Standards 3 Technical Pronouncements 7 IFRIC Agenda Decisions 23 Draft Technical Pronouncements 1 IFRS Foundation Exposure Draft 2 IASB Requests for Information 9 IASB Exposure Drafts 9 IFRIC Tentative Agenda Decisions 2 MASB Draft Technical Pronouncements 21 Comment Letters 1 IFRS Foundation Exposure Draft 1 IASB Discussion Paper 2 IASB Requests for Information 6 IASB Exposure Drafts 11 IFRIC Tentative Agenda Decisions 3 Financial Reporting Foundation 2 0 2 1 2021 Highlights 29 Regional / International Participation 14 Participation in IASB 9 Participation in AOSSG 6 Others (IFR4NPO TAG and IFASS) 9 Outreach Activities 2 MAIC Engagement sessions with Academia / Students 2 Sessions with Academia / Students 4 Speaking Engagements RECOGNITION 3 Articles published The Foundation received the Standard Accounting System for Government Agencies (SAGA) Compliance Certificate from the Accountant General’s Department of Malaysia (AGD) certifying that the Foundation’s accounting system complies with the accounting and financial systems design approved by AGD and SAGA Compliance Criteria.
Climate Related Financial Disclosure (CRFD) – coming ready or not?

Understanding the assumptions used in determining the expected future cash flows for impairment testing oil palm plantations What keeps your auditor awake at night?
2 0 2 1 Financial Reporting Foundation 4 Standard Accounting System for Government Agencies (SAGA) Compliance Certificate awarded by the Accountant General’s Department Malaysia (AGD) 5 Financial Reporting Foundation 2 0 2 1 CHAIRMAN'S STATEMENT Financial Reporting Foundation 2 0 2 1 Financial Reporting Foundation 6 the year, the Foundation "During continued to support MASB in carrying out its functions as well as in its focus on stakeholders’ engagement.
Several online outreach programmes related to draft technical pronouncements the were conducted International Accounting Standards Board (IASB), China Accounting Standards Committee and The Institute of Chartered Accountants of India, and the responses were very encouraging."
jointly with DATO' ZAINAL ABIDIN PUTIH Chairman Financial Reporting Foundation 7 Financial Reporting Foundation 2 0 2 1 CHAIRMAN'S STATEMENT Chairman's Statement Greetings everyone, I am pleased to state that this is my inaugural statement as Chairman of the Financial Reporting Foundation (Foundation), following my appointment in July 2021.

The COVID-19 pandemic continues to significantly disrupt normal activities globally and impact organisations, mainly negatively in different ways.
To ensure minimal disruptions, our staff at the Foundation and at our standard-setting body, the Malaysian Accounting Standards Board (MASB), worked hard and efficiently through remote working and meetings to achieve the targets set.

It is on this note that I, on behalf of the Foundation members, am pleased to present the annual report and audited financial statements of the Foundation for the financial year ended 31 December 2021.
Key Highlights Investors are now increasingly concerned about sustainability reporting.

The demands for companies to provide high-quality, transparent, reliable and comparable reporting on climate and other environmental, social and governance (ESG) matters are rising.

This is due to investors’ increased focus on ESG considerations when seeking growth or investment opportunities.
The sentiments expressed and commitments made during the COP26* that was held in Glasgow in November 2021 reflect the acceptance that the world is heading towards a serious climate change condition.

Dramatic changes need to be made regarding our collective behaviours to ensure we are more responsible in order to avoid future climate disaster.
The IFRS Foundation (IFRSF) Trustees broadened its remit into sustainability reporting standards following strong public support for the IFRSF Consultation Paper: Sustainability Reporting.

A new standard-setting board, the International (ISSB), was Sustainability Standards Board to develop established sustainability-related disclosure standards.

in November 2021 The Foundation and MASB are closely monitoring developments at the IFRSF.
In the interim, MASB has formed Working Group 71 Sustainability Reporting so as to provide a platform for our * The United Nations Climate Change Conference stakeholders to discuss and accordingly provide feedback to the IFRSF’s pronouncements on its sustainability reporting and related matters.
the local front, the Foundation in On October 2021 received the Standard Accounting System (SAGA) for Government Agencies Compliance Certificate the Accountant General’s Department of Malaysia (AGD) certifying that the Foundation’s accounting system complies with the accounting and financial systems design approved by AGD and SAGA Compliance Criteria.
from The Foundation is the first small Government agency and the fifth federal statutory body within the Ministry of Finance Malaysia to undergo this evaluation for SAGA certification.

Meanwhile, the AGD’s staff secondment to MASB ended on 31 August 2021 and we welcomed Bank Negara Malaysia’s (BNM) staff secondee in January 2022.

I would like to thank AGD and BNM for the assistance.
During the year, the Foundation continued to support MASB in carrying out its functions as well as in its focus on stakeholders’ engagement.

Several online outreach programmes related to draft technical pronouncements were conducted jointly with the International Accounting Standards Board (IASB), China Accounting Standards Committee and The Institute of Chartered Accountants of India, and the responses were very encouraging.
MASB also continued its involvement in the international arena which include, among others, meetings of the IFRS Advisory Council, IASB Emerging Economies Group, IASB Islamic Finance Consultative Group and the International Forum of Accounting Standard Setters, as well as regional meetings of Asian-Oceanian Standards-Setters Group.
Our Financials During the year, the operating expenses that were funded by the interim funding from the Capital Market Development Fund (CMDF) amounted to RM2.8 million compared to RM2 million in 2020.

In addition, the expenses incurred during the year on the MFRS application and implementation activities that amounted to RM842,357 were fully reimbursed 2 0 2 1 Financial Reporting Foundation 8 Chairman's Statement by CMDF.
The Foundation also received interest income of RM367,779 from placement of fixed deposits.

Thus, the Foundation reported a net residual of RM95,834 for the financial year ended 31 December 2021 compared to a deficit of RM0.87 million in 2020.

When I took over the chairmanship, the Foundation was already working very hard on possible alternative sources to our funding plan.
As of today, the plans are still being deliberated with key stakeholders and the Foundation is committed to working on a sustainable funding plan in cooperation with the Ministry of Finance Malaysia.

Acknowledgements It is heartening to see MASB continued its standing among the respected regional and international standard-setting bodies.
My fellow Foundation members and I would like to commend the Ministry of Finance Malaysia, BNM, Securities Commission Malaysia, Bursa Malaysia, Suruhanjaya Syarikat Malaysia, CMDF, MASB, business and industry players, the accounting profession and users of financial statements for their support.

I also would like to thank the Foundation and MASB Secretariats led by Puan Tan Bee Leng for their dedication, hard work, and loyalty throughout their service at the Foundation and MASB.

Thank you.
Thank you.

Dato' Zainal Abidin Putih Chairman Financial Reporting Foundation 8 March 2022 9 Financial Reporting Foundation 2 0 2 1 CHAIRMAN'S STATEMENT Malaysian Accounting Standards Board 2 0 2 1 Financial Reporting Foundation 10 "The significant milestones and progress achieved by MASB since its inception in 1997 are a clear testament of the immensely good work of my predecessors."
DATUK MOHD NASIR AHMAD Chairman Malaysian Accounting Standards Board 11 Financial Reporting Foundation 2 0 2 1 CHAIRMAN'S STATEMENT Chairman's Statement Introduction I am greatly honoured to be appointed by the Minister of Finance of Malaysia as Chairman of the Malaysian Accounting Standards Board (MASB) beginning 1 May 2021, succeeding Encik Mohamed Raslan Abdul Rahman.

It is a privilege to lead MASB which is an established national standard-setter.
The significant milestones and progress achieved by MASB since its inception in 1997 are a clear testament of the immensely good work of my predecessors.

MASB’s accomplishments have been exemplary.

This is indeed a challenging role to take on.

Nonetheless, I am hopeful that my experience in financial reporting would complement the support from the members of the Foundation and MASB as well as the MASB Secretariat staff.
All of us are instrumental in working together towards achieving our intended objectives.

The team worked tirelessly through a tumultuous year towards accomplishing goals and targets.

On behalf of the MASB, I report the following activities during the year.
Year 2021 In Review to Technical MASB published one Preface Pronouncements and Guidance and five MFRS final pronouncements in relation to narrow-scope amendments to several Standards, namely, MFRS 16 Leases, MFRS 101 Presentation of Financial Statements, MFRS 108 Accounting in Accounting Estimates Policies, Changes and Errors, MFRS 112 Income Taxes and MFRS 17 Insurance Contracts.
the We also notified our stakeholders of the seven Agenda Decisions published by IFRS Interpretations Committee (IFRIC) to support the application of IFRS Standards.

We have been disseminating the IFRIC Agenda Decisions to our stakeholders since 2018 and we believe that they serve their purpose in explaining how the applicable principles and requirements in IFRS Standards apply to transactions in the fact patterns described.
As part of our objective to participate in and contribute to the IASB standard-setting process, MASB issued 21 consultative documents for public exposure in Malaysia.

The 21 IASB documents comprise nine IASB Exposure Drafts, two IASB Requests for Information, nine IFRIC Tentative Agenda Decisions and one IFRS Foundation Exposure Draft.

In addition, MASB also issued two local draft technical pronouncements.
We have also submitted 10 comment letters and, on top of that, commented on 11 IFRIC Tentative Agenda Decisions.

The 10 comment letters were on six IASB Exposure Drafts, one IASB Discussion Paper, two IASB Requests for Information and one IFRS Foundation Exposure Draft.
Improving consistency On the MFRS application and implementation support front, MASB’s MFRS Application and Implementation Committee (MAIC), whose function is to facilitate consistent application and implementation of MFRS and to look into issues where there are existing and potential divergent practices, the MFRS Application and Implementation Guide (MAIG) 3 Preparation of consolidated financial statements for a group which had disposed of its only subsidiary during the financial year.
issued Anticipating the impending change in MFRS 17 Insurance Contracts which will come into effect beginning 1 January 2023, MASB in January 2021 set up Implementation the MFRS 17 Task Force to facilitate consistent application and the new Standard, especially during the transitional period from MFRS 4 Insurance Contracts to MFRS 17. implementation of The Task Force would discuss local implementation issues and provide recommendation to the MASB Board on the issuance or otherwise, of any form of technical guidance.
In April, MASB was invited to present at the BNM-FIDE FORUM-MASB Dialogue on 'MFRS 17 Insurance Contracts: What Every Director Must Know', which was organised by FIDE FORUM.

This was a refresher session on MFRS 17 with directors of financial institutions.
As for Islamic financial reporting matters, MASB in June issued the Issues Bulletin (IB) 3 Reporting Qard in the Takaful Fund Column within Takaful Entity Financial Statements, which complements the MASB approved accounting standards and 2 0 2 1 Financial Reporting Foundation 12 Chairman's Statement the earlier IB 1 MFRS 17 Insurance Contracts: Definition and Scope for Takaful and IB 2 Columnar Presentation of Takaful Funds in Takaful Entity Financial Statements.
Stakeholder engagements Despite the prolonged uncertainties due to the COVID-19 pandemic and its global impact since late 2019, MASB continued to actively engage with our stakeholders as well as participate in international and regional forums and meetings.

Working online as part of new norm has enabled us to organise six online outreach sessions with IASB as well as other national standard-setters to hear views and seek feedback from our constituents on the IASB draft new technical pronouncements.
Four outreach sessions were held jointly with IASB, while two other sessions were held jointly with IASB and other national standard-setters.

the Our joint outreach activities with IASB began ‘Post-implementation topic in March on Review of IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in Other Entities’, conducted over two sessions.
The other joint session held in April was on IASB Exposure Draft ED/2021/1 Regulatory Assets and Regulatory Liabilities.

in the following issuance of the Additionally, IASB Exposure Draft ED/2021/3 Disclosure Requirements IFRS Standards—A Pilot Approach and in view of the significant change the disclosure requirements proposed by to this Exposure Draft, we organised another joint outreach session with the IASB in June and an MASB public forum in July for constituents to share their views and concerns.
The public forum attracted a good number of participants from various backgrounds.

Due to the significant change to the way companies provide disclosures as proposed by ED/2021/3, we worked together with IASB and engaged two Malaysian conglomerates to participate in the IASB fieldwork to test the proposals on their financial statements.

We have always valued the importance of working together with other national standard-setters.
In this respect, together with IASB, we expanded our collaboration by organising joint outreach sessions.

The first was held with China Accounting Standards 13 Financial Reporting Foundation 2 0 2 1 Committee (CASC) on Request for Information Third Agenda Consultation.
The second was held with Institute of Chartered Accountants of India (ICAI) to provide an overview of the IASB Exposure Draft ED/2021/7 Subsidiaries without Public Accountability: Disclosures and gather feedback from participants on the Exposure Draft.

Apart from the IFRS series of events stated above, our SMEs stakeholders are equally important to us.
During the year, MASB together with IASB held two closed-door engagement sessions with the SMEs preparers of financial statements to hear their views on the upcoming review of the IFRS for SMEs Standard; that Standard was issued as the Malaysian Private Entities Reporting Standard.

Details of these outreach sessions are found in the Events section of this Annual Report.

All our outreach sessions were well received, and we are thankful for our stakeholders’ support.
We also appreciate having a robust working relationship with the IASB as it creates opportunities for us to connect our constituents with the IASB.

We look forward to continuing our good collaboration with the IASB and other national standard-setters especially in the area of stakeholder engagement.

Further to the series of engagement sessions with our stakeholders, we also published three technical articles titled, 'Climate Related Financial Disclosure (CRFD) – coming ready or not?
'; 'Understanding the assumptions used in determining the expected future cash flows for impairment testing oil palm plantations'; and 'What keeps your auditor awake at night?’.

Sharing knowledge and experiences globally and regionally The international and regional meetings that we attended provided good platforms for us to voice out our views and concerns of the Malaysian constituents.
in 2019, international meetings On that note, I am pleased to report that the potential projects suggested by MASB at the various i.e., IAS 23 Borrowing Costs, IAS 20 Accounting for Government Grants and Disclosure of Government Assistance, and IAS 38 Intangible Assets were considered and taken up by the IASB in the list of potential projects in the Request for Information Third Agenda Consultation.
As to whether these projects will be included in the IASB 2022-2026 Chairman's Statement work plan, the IASB will have to assess the feedback they received on the agenda consultation.

Meanwhile, another project that was raised by the MASB, i.e., equity method, is now in the IASB’s research project.
On the same note, I am also pleased to report that the issue on ‘Accounting treatment for acquisition of additional stake in a joint venture without change in joint control’, that MASB presented at the IASB Emerging Economies Group (EEG) November 2020 meeting, was highlighted at the IASB meeting in June 2021.

It discussed, among others, application questions relating to purchases or other increases in the investor’s ownership share that do not result in obtaining control of the investee.
The discussion the Accounting Standards then continued at Advisory Forum (ASAF) October 2021.

In 2021, MASB was represented by its Executive Director, Puan Tan Bee Leng, in several IFRS Advisory Council meetings.

The IFRS Advisory Council is the formal advisory body of the IASB and Trustees of IFRS Foundation which comprises 50 individual members.

Among the key topics discussed during the meetings were the Third Agenda Consultation and sustainability reporting.
Puan Tan continued her active involvement in the IASB SME Implementation Group (SMEIG) which was established to support the international adoption of the IFRS for SMEs Standard and to monitor its implementation.

During its meetings, SMEIG discussed crucial topics regarding the comprehensive review of the IFRS for SMEs Standard and developed recommendations that would enable the IASB to decide its direction on whether and how to align the IFRS for SMEs Standard with full IFRS Standards.
Puan Tan also attended IASB EEG meetings held in May, July and December, as well as the International Forum of Accounting Standard Setters (IFASS) Meeting held in March and September.

Details of the topics discussed in these meetings are found in the Events section of this Annual Report.
In November, MASB representatives attended the 13th Annual Asian-Oceanian Standard-Setters Group (AOSSG) Meeting which was held online and organised by The Institute of Chartered Accountants of Sri Lanka which is also the new Chair of AOSSG for the year 2021-2023. for leader At this meeting, MASB as the AOSSG Working Group Islamic Finance, presented views on 'Islamic Finance – Adoption of IFRS 17 and Takaful'.
In addition, MASB presented the Australian Accounting a Joint-Paper with Standards Board from IFRS 16 Leases, transition relief and practical expedients'.

MASB as the AOSSG Working Group leader for the IFRS for SMEs project also presented at the AOSSG Working Group Meeting in November on the IASB Exposure Draft ED/2021/7 Subsidiaries without Public Accountability: Disclosures.
(AASB) on 'Lessons Puan Tan also serves as a member in her individual capacity, of the International Financial Reporting for Non-Profit Organisations (IFR4NPO) Technical Advisory Group (TAG), an initiative led by the Chartered Institute of Public Finance and Accountancy (CIPFA).

Several virtual meetings of IFR4NPO TAG were held during the year which discussed various topics, among others, the IFR4NPO Consultation Paper.
This subject matter is gaining attention in view of for lack of consistent financial reporting the non-profit organisations (NPOs) and, therefore, the viewpoints of experienced individuals from national standard-setters are sought after for the development of international financial reporting guidance for NPOs.

Priorities for 2022 We expect the year 2022 to be as challenging and eventful as the past year.
During 2021, we provided feedback to the IASB Request for Information: Third Agenda Consultation which we hope would help shape the IASB’s thinking when determining how to prioritise its activities and new projects in its work plan for 2022 to 2026.

It will be interesting to take note of the new, important projects that will be taken on board by the IASB.
Nonetheless, for the coming year, the IASB’s capacity as well as ours will be filled with completing projects already underway and undertaking post-implementation reviews.

We will also continue to support the application and implementation of new and existing standards whilst increasing engagement with a broader range of stakeholders through our outreach activities.

As always, we to your active participation in the MASB standard-setting due process.
forward look 2 0 2 1 Financial Reporting Foundation 14 Chairman's Statement Conclusion I would like to convey my appreciation to members of the Foundation and the MASB Board for their guidance, support, insight and effort to work as a team.

All this has been invaluable to me.

My utmost gratitude also goes to the MASB Secretariat staff for their resilience and resourcefulness in these unusual times in ensuring MASB’s objectives are met.

Great job.

Together, let’s take it up a notch.


Last but not least, my deepest thanks to all our stakeholders, in particular, the Ministry of Finance Malaysia, regulators, professional bodies, the academia, accounting firms, members of our working groups and the commercial sectors for their efforts and support.
Datuk Mohd Nasir Ahmad Chairman Malaysian Accounting Standards Board 8 March 2022 15 Financial Reporting Foundation 2 0 2 1 FINANCIAL REPORTING FOUNDATION 2 0 2 1 Financial Reporting Foundation 16 Profile of the Financial Reporting Foundation The Financial Reporting Foundation (FRF) was established as an independent body under the Financial Reporting Act 1997 (Act).

The FRF and the Malaysian Accounting Standards Board (MASB) are part of the financial reporting framework in Malaysia.
This framework comprises an independent standard-setting structure with representation from relevant parties in the standard-setting process, including preparers, users, regulators, academia and the accountancy profession.

The FRF is largely responsible for the establishment of a sound and effective infrastructure for the financial reporting framework and acts as a sounding board for the adoption of the MASB accounting standards, technical pronouncements and its annual work programme.
As a trustee body, the FRF is also responsible for the oversight of the MASB’s performance, financial and funding arrangements.

However, it has no direct responsibility with regard to standard setting.

This responsibility rests solely with the MASB.


The functions and powers of the FRF, as provided under the Act, include the following: (a) to oversee the carrying out of the functions of the MASB; and (b) to perform any other function as the Minister of Finance may prescribe by order published in the Gazette.
Without limiting the generality of the functions stated above, the FRF shall be responsible: (a) to provide its views to the MASB on any matter which the MASB seeks to undertake or implement with respect to the development and issuance of accounting standards and other technical pronouncements; (b) to review the performance of the MASB; and (c) for all financing arrangements for the operations of the MASB, including approving the budget of the MASB.
The FRF comprises twelve (12) members who are appointed by the Minister of Finance.
Eight (8) of the members are ex-officio, and comprise: ● ● ● ● ● ● ● the Secretary General of the Treasury or his representative; the Governor of the Central Bank or his representative; the Chairman of the Securities Commission Malaysia or his representative; the Chairman of the Audit Oversight Board or his representative; the Registrar of Companies or his representative; the Chief Executive Officer of Bursa Malaysia Berhad or his representative; the President of the Malaysian Institute of Accountants or his representative who shall be a council member of the Malaysian Institute of Accountants; and ● the Chairman of the MASB.
The remaining four (4) members shall possess knowledge and experience in matters of financial accounting and in one or more of the following fields: ● ● ● ● accountancy; law; business; or finance.
17 Financial Reporting Foundation 2 0 2 1 Members of the Financial Reporting Foundation The members of the FRF since the last report are: Datuk Mohd Nasir Ahmad (Appointed on 1 May 2021) Chairman, Malaysian Accounting Standards Board Encik Mohamed Raslan Abdul Rahman (Retired on 30 April 2021) Past Chairman, Malaysian Accounting Standards Board Encik Sridharan Nair PricewaterhouseCoopers Vice Chairman – Markets, Asia Pacific Encik Jalalullail Othman Senior Partner, Shook Lin & Bok Puan Anne Rodrigues Independent Non-Executive Director, Kuala Lumpur Kepong Berhad Dato' Zainal Abidin Putih (Appointed on 1 July 2021) Chairman Tan Sri Azlan Zainol (Retired on 30 June 2021) Past Chairman Puan Noor Zuraini binti Aziz (Appointed on 1 May 2021) Head of Section, Tax Division, Ministry of Finance Malaysia Puan Mahfuzah binti Baharin (Retired on 30 April 2021) Deputy Undersecretary, Tax Division, Ministry of Finance Malaysia Encik Aznan Abdul Aziz Assistant Governor, Bank Negara Malaysia Datuk Syed Zaid Albar Executive Chairman, Securities Commission Malaysia Dato’ Anantham Kasinather (Appointed on 1 February 2021) Non-Executive Chairman, Audit Oversight Board Datuk Nor Azimah binti Abdul Aziz Chief Executive Officer, Companies Commission of Malaysia Datuk Muhamad Umar Swift Chief Executive Officer, Bursa Malaysia Berhad Dr. Veerinderjeet Singh President, Malaysian Institute of Accountants 2 0 2 1 Financial Reporting Foundation 18 Members of the Financial Reporting Foundation Committees Executive Commitee Procurement Committee Dato’ Zainal Abidin Putih – Chairman (Appointed on 1 July 2021) Puan Noor Zuraini binti Aziz – Chairman (Appointed on 1 May 2021) Tan Sri Azlan Zainol (Retired on 30 June 2021) Puan Noor Zuraini binti Aziz (Appointed on 1 May 2021) Puan Mahfuzah binti Baharin (Retired on 30 April 2021) Datuk Syed Zaid Albar Datuk Muhamad Umar Swift Datuk Mohd Nasir Ahmad (Appointed on 1 May 2021) Encik Mohamed Raslan Abdul Rahman (Retired on 30 April 2021) Nomination Committee Datuk Syed Zaid Albar – Chairman Puan
 Mahfuzah binti Baharin (Retired on 30 April 2021) Datuk Syed Zaid Albar Encik Aznan Abdul Aziz Datuk Muhamad Umar Swift Quotation Committee Datuk Mohd Nasir Ahmad – Chairman (Appointed on 1 May 2021) Encik Mohamed Raslan Abdul Rahman (Retired on 30 April 2021) Puan Noor Zuraini binti Aziz (Appointed on 1 May 2021) Puan Mahfuzah binti Baharin (Retired on 30 April 2021) Encik Aznan Abdul Aziz Encik Jalalullail Othman Puan Anne Rodrigues Dato' Zainal Abidin Putih (Appointed on 1 July 2021) Tan Sri Azlan Zainol (Retired on 30 June 2021) Datuk Mohd Nasir Ahmad (Appointed on 1 May 2021) Encik Mohamed Raslan Abdul Rahman (Retired on 30 April 2021) Audit Committee Dr. Veerinderjeet Singh – Chairman Dato’ Anantham Kasinather (Appointed on 1 February 2021) Encik Sridharan Nair Encik Jalalullail Othman 19 Financial Reporting Foundation 2 0 2 1 PROFILES OF MEMBERS Financial Reporting Foundation 2 0 2 1 Financial Reporting Foundation 20 PROFILES OF MEMBERS Encik Jalalullail Othman Senior Partner, Shook Lin & Bok 3 Dato’ Anantham Kasinather Non-Executive Chaiman, Audit Oversight Board 5 Encik Aznan Abdul Aziz Assistant Governor, Bank Negara Malaysia 2 Datuk Mohd Nasir Ahmad Chairman, Malaysian Accounting Standards Board 4 Datuk Syed Zaid Albar Executive Chairman, Securities Commission Malaysia 6 Dato’ Zainal Abidin Putih Chairman, Financial Reporting Foundation 21 Financial Reporting Foundation 2 0 2 1 PROFILES OF MEMBERS 7 8 9 11 12 10 7 Puan Noor Zuraini binti 9 Datuk Nor Azimah binti 11 Encik Sridharan Nair Aziz Head of Section, Tax Division, Ministry of Finance Malaysia Abdul Aziz Chief Executive Officer, Companies Commission of Malaysia PricewaterhouseCoopers Vice Chairman – Markets, Asia Pacific 8 Datuk Muhamad Umar 10 Dr. Veerinderjeet Singh 12 Puan Anne Rodrigues Swift Chief Executive Officer, Bursa Malaysia Berhad President, Malaysian Institute of Accountants Independent Non-Executive Director, Kuala Lumpur Kepong Berhad 2 0 2 1 Financial Reporting
 Foundation 22 Profiles of Members DATO’ ZAINAL ABIDIN PUTIH Chairman, Financial Reporting Foundation Dato’ Zainal Abidin Putih is a Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW), a Member of The Malaysian Institute of Certified Public Accountants (MICPA) and a Member of the Malaysian Institute of Accountants (MIA).
Upon qualifying from the ICAEW, Dato’ Zainal joined the firm of Messrs Hanafiah, Raslan & Mohamad, which merged with Ernst & Young in July 2002.

He has extensive experience in audit, having worked as a practicing accountant throughout his career covering many principal industries including banks, insurance, energy, transport, manufacturing, government agencies, plantations, properties, hotels, investment companies and unit trusts.
He also has good working knowledge of taxation matters and management consultancy, especially in the areas of acquisitions, takeovers, amalgamations, restructuring and public listing of companies.

Dato’ Zainal plays an active role in the community and the corporate world, being a Past President of MICPA, former Chairman of Pengurusan Danaharta Nasional Berhad, as well as the Malaysian Accounting Standards Board (MASB).
He was a member of the Malaysian Communication and Multimedia Commission (a body set up by the Malaysian Government to oversee the orderly development of the multimedia and telecommunication industry in Malaysia) and also a member of the Investment Panel of Employees Provident Fund (EPF).

Dato’ Zainal has more than 45 years of experience in various capacities in the corporate sector and was Chairman of CIMB Bank Berhad until his retirement in June 2020.
He is currently Chairman of Land and General Berhad, Touch ‘n Go Sdn Bhd and Tokio Marine Insurans (Malaysia) Berhad.

He also sits on the boards of Khazanah Nasional Berhad, Petron Malaysia Refining & Marketing Berhad, as well as the boards of several private limited companies.

Dato’ Zainal is a Trustee of IJN Foundation and a Trustee of Yayasan Universiti Multimedia (YUM).
PUAN NOOR ZURAINI BINTI AZIZ Head of Section, Tax Division, Ministry of Finance Malaysia Puan Noor Zuraini Aziz started her career in civil service with the Ministry of Entrepreneur and Cooperative Development in 2002.

Over the years she has served various Ministries and Departments, and currently is the Head of Manufacturing Section in Tax Division, Ministry of Finance Malaysia.

She holds a Master in Forensic Accounting and Criminology from Universiti Teknologi MARA.
23 Financial Reporting Foundation 2 0 2 1 Profiles of Members ENCIK AZNAN ABDUL AZIZ Assistant Governor, Bank Negara Malaysia Encik Aznan Abdul Aziz is an Assistant Governor at Bank Negara Malaysia.

He is responsible for the Payments Services Oversight, Financial Conglomerates Supervision, Banking Supervision, Insurance and Takaful Supervision as well as Risk Specialist and Technology Supervision Departments.
Prior to his appointment, he served in several departments in the Bank including Financial Conglomerates and Supervision, Governor’s Office, Islamic Banking and Takaful, Financial Sector Development, Financial Intelligence Unit, Financial Surveillance and Bank Regulation Departments.

He also served as the Chairman of the Financial Technology Enabler Group (FTEG) that is responsible for developing strategies and regulatory policies to facilitate the use of technology in financial services.
Prior to joining Bank Negara Malaysia, he was the Assistant General Manager of Danamodal Nasional Berhad, the special purpose vehicle established to recapitalise distressed financial institutions during the 1997 Asian Financial Crisis.

He holds a degree in Economics and Accounting from the University of Bristol, England.

DATUK SYED ZAID ALBAR Executive Chairman, Securities Commission Malaysia Datuk Syed Zaid Albar is the Executive Chairman of the Securities Commission Malaysia (SC).
Prior to his appointment as the SC Chairman on 1 November 2018, he was the Managing Partner of an established law firm in Kuala Lumpur.

Datuk Syed Zaid was appointed as Chairman of the Securities Industry Development Corporation (SIDC) in January 2020, the learning and development arm of the SC.

He chairs the Board of Trustees of the Capital Market Development Fund (CMDF), a statutory fund established in 2002 with the objective of funding the development and promotion of the capital market.
As the Chairman of the Commission, Datuk Syed Zaid is a member of Bank Negara Malaysia’s Financial Stability Executive Committee (FSEC), chaired by the Governor of Bank Negara Malaysia, as well as a member of the Board of Trustees of the Financial Reporting Foundation.

On the international front, Datuk Syed Zaid was the Vice Chair of the Growth and Emerging Markets (GEM) of the International Organization of Securities Commissions (IOSCO) from 2019 to 2020.
From June 2020 to date, he is the Board representative for the Asia Pacific Regional Committee (APRC) of IOSCO, and a member of the governing Board of IOSCO, the global body of capital market regulators.

He is also the Vice Chair of the Management Committee of the IOSCO Asia Pacific Hub based in Kuala Lumpur.

Datuk Syed Zaid also represents the SC in the ASEAN Capital Markets Forum (ACMF).

Datuk Syed Zaid is a Barrister at Law of the Lincoln’s Inn, UK.

He has a degree in law from the United Kingdom.


Prior to joining the SC, he has been an active practitioner for over 38 years, predominantly in the fields of corporate law, banking and capital market (debt and equity) in the areas of both conventional and Islamic finance.

His contribution and achievements in the legal practice have been recognised through numerous domestic and international awards.
2 0 2 1 Financial Reporting Foundation 24 Profiles of Members DATO' ANANTHAM KASINATHER Non-Executive Chairman, Audit Oversight Board Dato’ Anantham Kasinather brings with him more than 40 years of experience in the private sector, having started his career at Skrine practising in various areas of commercial law.

He appeared as Counsel in the High Court of Malaya, Sabah and Sarawak, Court of Appeal and Federal Court of Malaysia.
Dato’ Anantham is now a consultant for Sree Harry & Co. Dato’ Anantham has also served in the judiciary where he was appointed as a Judge of the High Court of Malaya in 2009 and elevated to the Court of Appeal in 2010 before retiring from judicial service in May 2014.

He was appointed as an Arbitrator with the Asian International Arbitration Centre in 2010.

At present, he is one of four Representatives of the Government of Malaysia to the Permanent Court of Arbitration.
Dato’ Anantham is a Fellow of The Malaysian Institute of Arbitrators.

He is also the Non-Executive Chairman of the Securities Commission Malaysia’s Audit Oversight Board.

He holds a Bachelor of Law LLB (Hons.)

from the National University of Singapore.

DATUK NOR AZIMAH BINTI ABDUL AZIZ Chief Executive Officer, Companies Commission of Malaysia Datuk Nor Azimah Abdul Aziz is the Chief Executive Officer (CEO) of the Companies Commission of Malaysia (SSM).
Prior to her appointment as CEO on 1 May 2020, she was the Deputy Chief Executive Officer (DCEO) of Regulatory & Enforcement and thereafter, DCEO of Corporate Services between 2016 and 2020.

She started her career in 1992 as an Advocate and Solicitor and from there on served as a Law Lecturer at the Accounting Department, Faculty of Business and Management, Universiti Kebangsaan Malaysia (UKM).
During her tenure with UKM, in July 2000, she was seconded to the Regulatory and Standards Department of the Malaysian Institute of Accountants (MIA).

She joined SSM as General Manager of the Corporate Policy, Planning and Development Department in 2003.
She has extensive experience in law reform initiatives and oversaw the passing of significant pieces of legislations under the purview of SSM, among others, the Companies Act 2016, Interest Schemes Act 2016, Limited Liability Partnership Act 2012 and Companies (Amendment) Act 2007.
She is currently a Board Member of the Audit Oversight Board (AOB), Board Member for the Certification of Certified Integrity Officers (CEIO), Board Member of the Financial Reporting Foundation (FRF), Member of the Approval and Implementation Committee of the Iskandar Regional Development Authority (IRDA) as well as Board Member of the Labuan Financial Services Authority (Labuan FSA).
She obtained her Law Degree from the Institut Teknologi MARA (now Universiti Teknologi MARA or UiTM) and her Master of Laws (LLM in Business Law) from the University of Wales, Aberystwyth, United Kingdom.
25 Financial Reporting Foundation 2 0 2 1 Profiles of Members DATUK MUHAMAD UMAR SWIFT Chief Executive Officer, Bursa Malaysia Berhad Datuk Muhamad Umar Swift, a Malaysian permanent resident aged 57, graduated with a Bachelor of Economics degree from Monash University, Australia, and is a Fellow of Chartered Accountants Australia and New Zealand, a Fellow of CPA Australia, a Chartered Tax Adviser of the Tax Institute of Australia, and a Fellow of the Financial Services Institute of Australasia (FINSIA) in Australia.
He is also a Chartered Accountant with the Malaysian Institute of Accountants (MIA) and a Registered Financial Planner.

Datuk Umar has more than 25 years of experience in the areas of banking and financial services.

He commenced his career with Price Waterhouse Chartered Accountants in 1986 and moved to the Corporate Finance division of Bank of Singapore (Australia) Limited in 1992, where he advanced his banking career in various positions before joining Gas Malaysia Sdn.

Bhd.
Bhd.

as General Manager, Corporate Finance in 1996.

A year later, he was promoted to Chief Executive Officer of Gas Malaysia.

Datuk Umar became a Practice Leader for the Utilities Business of Deloitte Consulting in Malaysia in 2002, before re-entering the financial services industry as Executive Vice President – Head, Enterprise Financial Services Group of Maybank in 2004.
In 2006, he was appointed as the Chief Executive Officer / Group Managing Director of MAA Group Berhad, where he also assumed the role of Chief Executive Officer of Malaysian Assurance Alliance Berhad (now known as Zurich Insurance Malaysia Berhad).

Currently the Chief Executive Officer of Bursa Malaysia Berhad, Datuk Umar leads the Exchange to fulfil its vision of becoming ASEAN’s leading, sustainable and globally connected marketplace.
He is also the director of all subsidiary companies within Bursa Malaysia Group, and serves as the Chairman of Bursa Malaysia Derivatives Berhad and Bursa Malaysia Derivatives Clearing Berhad.

Datuk Umar sits on the Board of the Securities Industry Development Corporation and is an appointed member of ‘Anugerah Kecemerlangan Industri’, Malaysia’s premier corporate recognition award introduced by the Ministry of International Trade and Industry to acknowledge outstanding Malaysian companies.
He is also an Ex-Officio member of the Financial Reporting Foundation and a Board member of the Capital Market Development Fund, both appointed by the Ministry of Finance.

In addition, Datuk Umar is also an advisor for the UN Global Compact Network Malaysia and Brunei and sits on the Steering Committee of the CEO Action Network.

He has also recently been appointed as the Adjunct Professor at the School of Economics, Finance and Banking of Universiti Utara Malaysia.
2 0 2 1 Financial Reporting Foundation 26 Profiles of Members DR. VEERINDERJEET SINGH President, Malaysian Institute of Accountants Dr. Veerinderjeet Singh was elected by the Malaysian Institute of Accountants (MIA) Council as its President on 26 September 2020.

Acknowledged as a leading expert in accountancy and taxation, Dr. Veerinderjeet commenced his current term on the MIA Council when he was appointed as a member on 25 May 2019.
He is currently the President of The Malaysian Institute of Certified Public Accountants (MICPA) and is a Non-Executive Chairman of Tricor Services (Malaysia) Sdn Bhd.

He was also Past President of the Chartered Tax Institute of Malaysia (CTIM) from 2007 to 2010.
With over 40 years of diverse experience in the fields of accounting, taxation and commerce, Dr. Veerinderjeet has served in the Inland Revenue Department, Universiti Malaya (as an Associate Professor), Arthur Andersen and Ernst & Young (as a Tax Partner/Executive Director) and authored several influential and authoritative tax publications.

Dr. Veerinderjeet also sits on the Boards of Malaysian Rating Corporation Berhad, AmBank (M) Berhad and UMW Holdings Berhad.
He is also an Adjunct Professor at Monash University, Malaysia and the current Chair of the Monash Business School Industry Advisory Board.

Globally, Dr. Veerinderjeet contributes his expertise as a member of the Commission on Taxation of the International Chamber of Commerce based in Paris and as a member of the Board of Trustees of the International Bureau of Fiscal Documentation (a tax research and consultancy body) based in Amsterdam.
DATUK MOHD NASIR AHMAD Chairman, Malaysian Accounting Standards Board Datuk Mohd Nasir Ahmad is the Chairman of CIMB Group Holdings Berhad.

He has vast experience in the areas of leadership, management, finance and accounting which spans over 40 years.

He also currently serves as Chairman for CIMB Bank Berhad, CIMB Bank PLC (Cambodia) and CIMB Foundation.
Datuk Mohd Nasir is also a director of Prokhas Sdn Bhd and Touch ‘N Go Sdn Bhd besides being a Trustee of Yayasan Canselor UNITEN and Perdana Leadership Foundation.

He is a Past President of the Malaysian Institute of Accountants (MIA).
27 Financial Reporting Foundation 2 0 2 1 Profiles of Members ENCIK SRIDHARAN NAIR PricewaterhouseCoopers Vice Chairman – Markets, Asia Pacific Encik Sridharan Nair (or Sri as he is widely known) is the Vice Chairman, Markets for PricewaterhouseCoopers (PwC), in Asia Pacific based in Kuala Lumpur, Malaysia.

He co-chairs the Asia Pacific Executive Team and a member of the Asia Pacific Leadership Team.

He is also a member of PwC’s Global Inclusion and Diversity Council.
Sri has held various other leadership roles in PwC prior to taking up his current position in July 2020.

He was the Territory Senior Partner (TSP) of the Malaysian firm from 2012 and of the combined Malaysia-Vietnam firm from 2015.

He was also the Chairman of the Board of the South East Asia Consulting (SEAC) practice and Board member of the ASEANZ Consulting practice.

He is an alumnus of Universiti Malaya and qualified as a Chartered Accountant in the United Kingdom.
He has 32 years’ experience in audit and business advisory services, having worked with a wide range of clients across various industry sectors in Malaysia.

During his tenure as TSP, Sri was a regular speaker and moderator at various conferences and forums in Malaysia on topics such as leadership, corporate governance, current economic issues, human capital, and diversity.
For his efforts in driving best practices in creating a diverse and inclusive workplace in PwC Malaysia, he was recognised as CEO Champion at the inaugural Life at Work Awards by the government several years ago.

2 0 2 1 Financial Reporting Foundation 28 Profiles of Members ENCIK JALALULLAIL OTHMAN Senior Partner, Shook Lin & Bok Encik Jal Othman was appointed as Independent Director of CIMB Islamic Bank Berhad on 26 January 2018 and is a Member of the Board Risk Committee.
He heads the Islamic Finance practice in Shook Lin & Bok, one of the oldest and largest law firms in Malaysia.

He was instrumental in setting up the Islamic Finance practice and continues to chart the course of this practice area within the Firm.

Encik Jal heads a team of approximately 20 lawyers advising on Islamic finance deals.
His portfolio of work includes advising on a wide range of sukuk issuances for financing power plants in Malaysia and China, vessel construction, project financing for the automotive industry, the textile and garment industry, the downstream and upstream palm oil industry, advising on Islamic structured products and Islamic syndicated financing.
Encik Jal is also actively involved in the drive for innovation in the industry and in this respect, he leads the team advising on various product developments for Islamic banks, both in Malaysia and abroad.

In addition to Islamic Finance, Encik Jal’s other major areas of practice are corporate commercial law and real estate.

His experience in advising on some major cross-border mergers and acquisitions and real estate acquisitions have benefited him in his role as an Islamic Finance lawyer.
He is the deputy head of the conventional banking and finance department at Shook Lin & Bok.

Encik Jal holds positions in the International Centre for Education in Islamic Finance (INCEIF) University (an institution established under the auspices of Bank Negara Malaysia).

He has also been commissioned by the Securities Commission Malaysia and the Rating Agency of Malaysia in relation to product development and regulatory requirements.
He is also involved in law reform with his involvement in the Bank Negara Malaysia committee for Islamic Finance Law Reform.

Encik Jal also sits on the technical committees of the Malaysian Accounting Standards Board (MASB) and the Malaysian Institute of Accountants (MIA).

Additionally, he is a moderator with the Finance Accreditation Agency (FAA) and an arbitrator for Islamic Finance with the Kuala Lumpur Regional Centre for Arbitration (KLRCA).
He is also a chapter reviewer and contributor for the International Shariah Research Academy (ISRA).

After graduating from Queen Mary & Westfield College of the University of London and after completing the Malaysian Bar examinations, Encik Jal commenced his pupillage in Shook Lin & Bok and continued his employment with the Firm, culminating in his admission as a partner in 2001.

He continued his progression within the Firm with his elevation as a senior partner of the Firm in 2004.
29 Financial Reporting Foundation 2 0 2 1 Profiles of Members PUAN ANNE RODRIGUES Independent Non-Executive Director, Kuala Lumpur Kepong Berhad Puan Anne Rodrigues is a member of the Malaysian Institute of Accountants and was a Fellow of the Association of Chartered Certified Accountants (ACCA).

She also holds a Masters in Business Administration (Distinction) from the University of Bath MIM and a Bachelor of Economics (Class 1 Honours) degree from Universiti Malaya.
Puan Anne Rodrigues was the Group Chief Financial Officer of Felda Global Ventures Holdings (FGV) till her official retirement in December 2010.

Subsequent to that, she continued as Finance Advisor in FGV and also was posted to Boston as Chief Financial Officer of TRT Holdings Boston USA.

She retired in December 2012.


She has more than 30 years’ experience in the financial sector, having been previously appointed as the Corporate Treasurer and subsequently Finance Director of Malaysia International Shipping Corporation and previous to that as Finance Manager, Boustead Travel Sdn Bhd.

Puan Anne Rodrigues is currently an Independent Non-Executive Director of the Board of Kuala Lumpur Kepong Berhad and is a member of the Audit Committee of the Board.
2 0 2 1 Financial Reporting Foundation 30 This page is intentionally left blank MALAYSIAN ACCOUNTING STANDARDS BOARD 2 0 2 1 Financial Reporting Foundation 32 Profile of the Malaysian Accounting Standards Board The Malaysian Accounting Standards Board (MASB) was established under the Financial Reporting Act 1997 (Act) as the standard-setting body of the FRF, whose functions shall be the determination and issuance of accounting standards for the preparation of financial statements which are required to be prepared or lodged under any law administered by the Securities Commission Malaysia, Bank Negara Malaysia or the Registrar of Companies.
Without limiting the generality of the functions as stated above, the MASB shall be responsible: (a) to issue new accounting standards as approved accounting standards; (b) to review, revise or adopt as approved accounting standards, existing accounting standards; (c) (d) (e) to amend, substitute, suspend, defer, withdraw or revoke any approved accounting standards in whole or in part; to issue, approve, review, revise, amend, substitute, suspend, defer, withdraw or revoke any issues bulletin in whole or in part; to issue, approve, review, revise, amend, substitute, suspend, defer, withdraw or revoke any statement of principles, any technical and other releases and any other document relating to financial reporting by whatever name called in whole or in part; (f) to sponsor or undertake development of possible accounting standards; (g) (h) (i) to collaborate with other national and international accounting standard-setters and monitor the development of other national and international accounting standards; to participate in and contribute to the development of a single set of accounting standards for international use; to conduct such public consultation as may be necessary in order to determine the contents of accounting concepts, principles and standards; (j) to develop a conceptual framework for the purpose of evaluating proposed accounting standards; (k) (l) to make such changes to the form and content of proposed accounting standards as it considers necessary; to monitor the operation of approved accounting standards to assess their continued relevance and their effectiveness; and (m) to perform such other functions as the Minister of Finance may prescribe by order published in the Gazette.
The members comprise leading corporate figures in the accounting profession, business and finance.

The eight (8)-member Board is appointed by the Minister of Finance, and comprises: ● ● ● the Chairman of the MASB; the Accountant General; and six (6) other members who possess knowledge and experience in matters of financial accounting and reporting, and in one or more of the fields of accountancy, law, business and finance.
In addition, three (3) advisors are appointed by the Minister of Finance, with one each drawn from: ● ● ● the Securities Commission Malaysia; Bank Negara Malaysia; and the Registrar of Companies.
33 Financial Reporting Foundation 2 0 2 1 Objectives of the Malaysian Accounting Standards Board The MASB's mission is to develop and promote high quality accounting and financial reporting standards that are consistent with international best practice for the benefit of users, preparers, auditors and the public in Malaysia.

In a wider context, the MASB seeks to participate in and contribute to the development of a single set of financial reporting standards for international use.
In the pursuit of its mission, the MASB is guided by a clear set of policy objectives: (a) (b) (c) (d) (e) to develop high quality accounting standards for financial reporting that benefit users, preparers, auditors and the public; in and contribute to participate International Accounting Standards Board (IASB) standard-setting process in the development of a single set of high quality globally accepted financial reporting standards for international use; the to to collaborate with other national standard-setters for the development of globally accepted financial reporting standards for international use; to promote the use and seek views on the application of accounting and financial reporting standards by way of engagement and dissemination of information to users, preparers, auditors and the public; to promote and support research in the area of financial reporting, in particular, for emerging and Islamic markets; and (f) to monitor the application of the MASB approved accounting standards.
2 0 2 1 Financial Reporting Foundation 34 Members and Advisors of the Malaysian Accounting Standards Board The members and advisors of the MASB since the last report are: Members Advisors Encik Alex Ooi Thiam Poh Securities Commission Malaysia Puan Jessica Chew Cheng Lian Bank Negara Malaysia Encik Yap Weng Seong Companies Commission of Malaysia Datuk Mohd Nasir Ahmad (Appointed on 1 May 2021) Chairman Encik Mohamed Raslan Abdul Rahman (Retired on 30 April 2021) Past Chairman Datuk Dr. Yacob bin Mustafa Accountant General of Malaysia, Accountant General’s Department of Malaysia Encik Chan Hooi Lam Partner, Malaysia and ASEAN Financial Services Assurance Leader, Ernst & Young Encik Lee Kong Weng Partner, Audit & Assurance, Baker Tilly Malaysia Tuan Syed Ahmad Taufik Albar (Appointed on 1 September 2021) Managing Director, Group International Business, RHB Banking Group Dato’ Mohamed Rafique Merican bin Mohd Wahiduddin Merican (Retired on 31 August 2021) Group Chief Executive Officer, Islamic Banking, Maybank Chief Executive Officer, Maybank Islamic Berhad Tengku Dato’ Sri Azmil Zahruddin Raja Abdul Aziz Chief Investment Officer, Khazanah Nasional Berhad Dato’ Soo Chan Fai Group Financial Controller, Eco World Development Group Berhad Encik New Kheng Chee Chief Financial Officer, Prudential BSN Takaful Berhad 35 Financial Reporting Foundation 2 0 2 1 PROFILES OF MEMBERS AND ADVISORS Malaysian Accounting Standards Board 2 0 2 1 Financial Reporting Foundation 36 PROFILES OF MEMBERS AND ADVISORS Encik Yap Weng Seong 3 Dato' Soo Chan Fai Companies Commission of Malaysia Group Financial Controller, Eco World Development Group Berhad 5 Encik Chan Hooi Lam Partner, Malaysia and ASEAN Financial Services Assurance Leader, Ernst & Young 2 Puan Jessica Chew 4 Tuan Syed Ahmad Taufik Cheng Lian Bank Negara Malaysia Albar Managing Director, Group International Business, RHB Banking Group 6 Datuk Mohd Nasir Ahmad Chairman, Malaysian Accounting Standards Board 37 Financial Reporting Foundation 2 0 2 1 PROFILES OF MEMBERS AND ADVISORS 7 8 10 9 11 7 Datuk Dr. Yacob bin 9 Tengku Dato' Sri Azmil Mustafa Accountant General of Malaysia, Accountant General's Department of Malaysia Zahruddin Raja Abdul Aziz Chief Investment Officer, Khazanah Nasional Berhad 8 Encik Lee Kong Weng 10 Encik New Kheng Chee Partner, Audit & Assurance, Baker Tilly Malaysia Chief Financial Officer, Prudential BSN Takaful Berhad 11 Encik Alex Ooi Thiam Poh Securities Commission Malaysia 2 0 2 1 Financial Reporting Foundation 38 Profiles of Members DATUK MOHD NASIR AHMAD Chairman, Malaysian Accounting Standards Board Datuk Mohd Nasir Ahmad is the Chairman of CIMB Group Holdings Berhad.
He has vast experience in the areas of leadership, management, finance and accounting which spans over 40 years.

He also currently serves as Chairman for CIMB Bank Berhad, CIMB Bank PLC (Cambodia) and CIMB Foundation.

Datuk Mohd Nasir is also a director of Prokhas Sdn Bhd and Touch ‘N Go Sdn Bhd besides being a Trustee of Yayasan Canselor UNITEN and Perdana Leadership Foundation.

He is a Past President of the Malaysian Institute of Accountants (MIA).
DATUK DR. YACOB BIN MUSTAFA Accountant General of Malaysia, Accountant General’s Department of Malaysia (Malaysia), Fellow of Certified Practising Accountant Datuk Dr. Yacob bin Mustafa is the Accountant General of Malaysia.

He is also a Chartered Accountant (Australia) and Chartered Public Finance Accountant (United Kingdom).

Prior to his current position, he served as Deputy Accountant General (Corporate) and Deputy Accountant General (Operation) in the Accountant General’s Department of Malaysia.
His career journey has spanned more than 30 years serving various government departments.

Currently, Datuk Dr. Yacob serves as Member, Board of Directors of Lembaga Pembiayaan Perumahan Sektor Awam (LPPSA), Perbadanan Insurans Deposit Malaysia (PIDM), DanaInfra Nasional Berhad (LHDNM), Kumpulan Wang Persaraan (Diperbadankan) (KWAP) and Prasarana Malaysia Berhad (Prasarana).
(DanaInfra), Lembaga Hasil Dalam Negeri Malaysia He holds a degree in accounting from Universiti Malaya, a master’s degree in business administration from Universiti Kebangsaan Malaysia and a PhD in economics from Universiti Kebangsaan Malaysia.
39 Financial Reporting Foundation 2 0 2 1 Profiles of Members ENCIK CHAN HOOI LAM Partner, Malaysia and ASEAN Financial Services Assurance Leader, Ernst & Young Encik Chan Hooi Lam has over 27 years of experience in providing assurance and advisory services, particularly in the financial services industry.

He is the Malaysia and ASEAN Financial Services Assurance Leader of Ernst & Young.
His experience includes audits and specialised advisory work for large banking groups, investment banks, mortgage corporations, building society, brokers, asset management companies, digital bank license applicants, the integrated exchange and the deposits insurance corporation.
Encik Chan has advised clients on appropriate accounting treatment of various exercises including those involving issuances of financial instruments, structured financing, securitisation, economic hedging and hedge accounting, individual and collective impairment assessments, mergers and acquisitions, share-based payments, regulatory capital instruments, synthetic instruments and embedded derivatives, under conventional and Islamic principles, in Malaysia and overseas.
He has also advised and assisted various clients on Malaysian Financial Reporting Standards (MFRS) and International Financial Reporting Standards (IFRS) conversion and implementation, including MFRS 7 Financial Instruments: Disclosures and MFRS 139 Financial Instruments: Recognition and Measurement (the Malaysian equivalents of IFRS 7 Financial Instruments: Disclosures and IAS 39 Financial Instruments: Recognition and Measurement), and the IAS 39 replacement standard i.e.
IFRS 9 Financial Instruments, in Malaysia and the Asian region.

A frequent speaker for seminars, conferences, training programmes and MBA course, Encik Chan has been the project manager for the Malaysian Accounting Standards Board (MASB) Working Group on financial instruments, an adjudicator for the National Annual Corporate Report Awards (NACRA) and an examiner for professional qualification examination.
He graduated from Universiti Malaya with Bachelor of Accounting (Honours) and is a member of the Malaysian Institute of Accountants (MIA) and The Malaysian Institute of Certified Public Accountants (MICPA).
ENCIK LEE KONG WENG Partner, Audit & Assurance, Baker Tilly Malaysia Encik Lee Kong Weng is a Chartered Accountant of the Malaysian Institute of Accountants (MIA), a member of The Malaysian Institute of Certified Public Accountants (MICPA) as well as a member of Chartered Accountants Australia and New Zealand (CAANZ).

He holds a Bachelor of Accounting (Hons.)

from Universiti Malaya.

Encik Lee began his professional career with Arthur Andersen & Co (now merged with Ernst & Young).
In 2000, he joined Classic Scenic Berhad Group, one of the largest wooden picture frame moulding manufacturers in Malaysia, as a Finance Manager and was promoted to the position of the Group Financial Controller in 2002.

He played a significant part in listing the Group on the Second Board of Bursa Malaysia in 2004 and subsequently, on the Main Board of Bursa Malaysia in 2006.

Eventually, he left the Group and joined Moore Stephens AC (now merged with Baker Tilly Malaysia).
Currently, he is a Technical Partner of Baker Tilly Malaysia as well as a council member of MICPA.

Encik Lee’s audit experience spans a wide array of industries including manufacturing, property development, construction, hospitality, plantation, trading, logistics, retail and services – many of which are public listed and multinational companies.

He also has experience in financial due diligence and acting as a reporting accountant for initial public offerings and other corporate exercises.
He also conducts training and workshops on new and existing accounting standards for both his internal staff and external corporate clients.
2 0 2 1 Financial Reporting Foundation 40 Profiles of Members TUAN SYED AHMAD TAUFIK ALBAR Managing Director, Group International Business, RHB Banking Group Tuan Syed Ahmad Taufik Albar is Managing Director of Group International Business at RHB Banking Group, where he is responsible for the growth and performance of RHB’s overseas businesses covering commercial banking, investment banking and asset management, synergising the functions and resources across the Group and within the countries.
In addition, he also oversees the Group’s non-retail loan recovery function.

Prior to this, Tuan Syed Ahmad Taufik Albar was RHB’s Group Chief Financial Officer for over four years up to January 2021.

He has more than 20 years of experience as a finance professional with domestic and international exposures in different major industries.
He worked in Shell offices in Malaysia, Australia and the Netherlands between 1998 and 2009, after which he spent four years with Axiata Group in various roles in Malaysia and Cambodia.

Prior to joining RHB, he was the Group Chief Financial Officer of UEM Group Berhad.

Tuan Syed Ahmad Taufik Albar holds a Master of Economics and a Bachelor of Accounting degrees from International Islamic University Malaysia.
He is a fellow of Chartered Institute of Management Accountant (CIMA) and a member of Malaysian Institute of Accountants (MIA).

TENGKU DATO' SRI AZMIL ZAHRUDDIN RAJA ABDUL AZIZ Chief Investment Officer, Khazanah Nasional Berhad Tengku Dato' Sri Azmil Zahruddin Raja Abdul Aziz joined Khazanah as Executive Director of Investments in October 2011.

He was appointed as Deputy Managing Director in January 2018 and later redesignated as Chief Investment Officer effective from 1 July 2020.
His main role is to oversee the Strategic and Commercial Funds within Khazanah’s portfolio.

Prior to joining Khazanah, Tengku Dato’ Sri Azmil was the Managing Director and Chief Executive Officer of Malaysia Airlines, having served six years as the airline’s Executive Director and Chief Financial Officer in August 2005.

Prior to Malaysia Airlines, he was Chief Financial Officer and subsequently Managing Director and Chief Executive Officer of Penerbangan Malaysia Berhad.
He was also with PricewaterhouseCoopers in their London and Hong Kong offices, where he worked in the Audit and Business Advisory Services division, specialising in financial services.

Tengku Dato’ Sri Azmil holds a First-Class Degree in Economics from the University of Cambridge.

He is a Chartered Accountant and a Member of the Malaysian Institute of Accountants (MIA) and the Institute of Chartered Accountants in England and Wales.
He is also an Associate of the Association of Corporate Treasurers, United Kingdom.

41 Financial Reporting Foundation 2 0 2 1 Profiles of Members DATO’ SOO CHAN FAI Group Financial Controller, Eco World Development Group Berhad Dato’ Soo Chan Fai is 54 years old and is a qualified Chartered Accountant registered with the Malaysian Institute of Accountants (MIA).
He pursued his professional accountancy course at Tunku Abdul Rahman College, Kuala Lumpur and completed his professional accountancy final stage via articleship with Deloitte (formerly known as Kassim Chan).

He joined property development company S P Setia Berhad in 1996.

He left S P Setia Berhad in 2014 and joined Eco World Development Group Berhad, also a property development company as Group Financial Controller.
ENCIK NEW KHENG CHEE Chief Financial Officer, Prudential BSN Takaful Berhad Encik New Kheng Chee joined the Prudential group in 2008 and has served various roles within the group, including Regional Financial Controller of Prudential Corporation Asia/Prudential Services Asia Sdn Bhd and Director of Finance of Prudential BSN Takaful Berhad.

He is the current Chief Financial Officer of Prudential BSN Takaful Berhad.
Prior to this, he worked for Ernst & Young Malaysia, specialising in audit and assurance assignment for life and general insurance businesses.

Encik New holds a degree in Economics from the London School of Economics and Political Science, and is a Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW).

He was a participant in ICAEW’s Financial Talent Executive Network (F-TEN) Asia in 2014.
2 0 2 1 Financial Reporting Foundation 42 Profiles of Advisors ENCIK ALEX OOI THIAM POH Securities Commission Malaysia Encik Alex Ooi Thiam Poh is currently the Executive Officer of the Audit Oversight Board (AOB), Securities Commission Malaysia (SC).

Prior to joining the AOB, he was an audit partner with BDO Malaysia.
He is currently involved in the Auditing and Assurance Standards Board (AASB), the Ethics Standards Board (ESB), the Education Committee, and the Disciplinary Appeal Board (DAB) of the Malaysian Institute of Accountants (MIA).

He is also a member of the MIA – Malaysian Qualifications Agency’s Joint Technical Committee.

He serves as an Advisor to the Malaysian Accounting Standards Board (MASB) and also represents the SC as a member in the Audit Licensing Committee of the Ministry of Finance Malaysia.
He is a current Council Member of MIA.

He is a member of International Forum of Independent Audit Regulators’ (IFIAR) Investor and Other Stakeholders Working Group (IOSWG).

He is also currently a member of the CPA Australia Ethics and Professional Standards Centre of Excellence.

He was previously the Malaysia Divisional President of CPA Australia in 2013 and 2014.

He was a former member of the Public Practice Advisory Board of CPA Australia in Melbourne, Australia.
Encik Alex Ooi is a Chartered Accountant of MIA, Fellow of CPA Australia, a member of the Institute of Chartered Accountants in England and Wales (ICAEW) and the Malaysian Institute of Certified Public Accountants (MICPA).

He holds a Bachelor of Economics (Accounting) from Monash University, Australia.

PUAN JESSICA CHEW CHENG LIAN Bank Negara Malaysia Puan Jessica Chew Cheng Lian is currently a Deputy Governor at Bank Negara Malaysia.
She has over 28 years of experience in financial sector supervision and regulation with the Bank.

She is currently responsible for financial stability which covers the regulation and supervision of banks, insurance companies, payment systems and money services.

Puan Jessica Chew represents the Bank as an advisor of the Malaysian Accounting Standards Board (MASB).
She holds a Chartered Banker qualification from the Chartered Banker Institute (Scotland), is a Fellow Chartered Banker of Asian Institute of Chartered Bankers (AICB) and an associate member of CPA Australia.

She graduated from the University of Melbourne, Australia with a Bachelor of Commerce Degree majoring in accounting and finance.
43 Financial Reporting Foundation 2 0 2 1 Profiles of Advisors ENCIK YAP WENG SEONG Companies Commission of Malaysia Encik Yap Weng Seong is a Fellow Member of the Association of Chartered Certified Accountants (ACCA), United Kingdom, and a member of the Malaysian Institute of Accountants (MIA).

He also holds a “Certification in Training” certificate awarded by Pembangunan Sumber Manusia Berhad and Certificate IV in Training and Assessment awarded by Management Consultancy International Pty Ltd, Australia.
Encik Yap started his career with an international professional firm specialising in auditing, accounting and business advisory services.

Thereafter, he joined the Royal Malaysian Customs as Superintendent of Customs in the Licensing and Enforcement sections before returning to the private sector as a Financial Controller where he gained valuable knowledge and skills in the areas of administration, finance and accounting.
He subsequently joined Lembaga Hasil Dalam Negeri Malaysia (LHDNM) as Assistant Director to further his career.

At LHDNM, he had wide exposure and knowledge in personal and corporate tax, tax audit, withholding tax and compliance tax at the Corporate Tax and Withholding Tax sections.

He was also appointed by LHDNM as a Prosecuting Officer to conduct civil proceedings in Malaysian courts pursuant to the Income Tax Act 1967.
Encik Yap has more than 35 years of working experience in a wide range of industries and is presently the Senior Manager of the Regulatory Review and Development Section in the Regulatory Development and Services Division of Companies Commission of Malaysia.
2 0 2 1 Financial Reporting Foundation 44 This page is intentionally left blank MANAGEMENT AND TECHNICAL TEAM 2 0 2 1 Financial Reporting Foundation 46 MANAGEMENT 2 1 3 4 5 1 Puan Tan Bee Leng Executive Director 2 Encik Chee Choong Yin Accounts and Administration Manager 3 Encik Foo Yoke Pin Project Director (MFRS Implementation Activities) 4 Cik Chew Lam Koon Project Director (Standard-setting Activities) 5 Puan Nadiah Ismail Assistant Associate Director 47 Financial Reporting Foundation 2 0 2 1 Management PUAN TAN BEE LENG Executive Director Puan Tan Bee Leng is the Executive Director of FRF/MASB.
She joined FRF/MASB in 1999, bringing with her a wealth of experience in public practice, commerce and industry.

She started her career at Messrs. Ernst & Whinney (EW) in 1988 before joining Messrs. Peter Chong & Co (PC) years later.

During her tenure in EW and PC, she was involved in special assignments such as floatation exercise of companies, special audit, due diligence review and statutory audit.
The client base included, among others, companies in various sectors such as manufacturing, plantation, property development, retailing, food and beverage, shipping agencies and investment holding.

She left the professional practice in the mid-nineties to join commerce and industry, and had held various senior management positions in public listed companies and their subsidiaries, mainly responsible for corporate affairs, accounts, tax and funding requirements of the group.
Bee Leng sits in the IFRS Advisory Council as the MASB individual representative, effective 1 January 2020 for a term of three years.

The Advisory Council is the formal strategic advisory body to the Trustees of the IFRS Foundation, the International Accounting Standards Board (IASB) and the International Sustainability Standards Board (ISSB).

Bee Leng also represents MASB in the IASB Emerging Economies Group (EEG) since its inception.
The EEG, set up in 2011, focuses on issues around the application and implementation of IFRS Standards in emerging economies.

In addition, the group may also consider if, and how, the IASB could provide educational guidance at the right level for interested parties in emerging economies and what the best delivery system for this would be.

In addition, Bee Leng sits in her individual capacity as a member of the IASB SME Implementation Group (SMEIG), for a second term of three years, effective 1 July 2019.
SMEIG has two main responsibilities, namely, to consider implementation questions on the IFRS for SMEs Standard and to make recommendations to the IASB on the need to amend the IFRS for SMEs Standard.

Bee Leng is also an active advocate on international financial reporting for Non-Profit Organisations (NPOs).
She is a member in the Technical Advisory Group on International Financial Reporting for Non-Profit Organisations (TAG), an initiative by The Chartered Institute of Public Finance and Accountancy (CIPFA).
The role of the TAG in the development of non-mandatory internationally applicable financial reporting guidance for NPOs will be to provide a forum where the TAG Secretariat can consult experienced individuals from national standard-setters, on the overall approach, and the key technical issues that it covers, as well as its finalisation.
On the professional front, Bee Leng sits in the Association of Chartered Certified Accountants (ACCA) Global Forum for Corporate Reporting since its inception, one of the 10 global forums launched by ACCA in 2011 to bring together experts from the public and private sectors, public practice and academia around the world.

Prior to her appointment to the Forum, she was involved in the examination paper on corporate reporting from 2008 until 2011.
She is a member of the Malaysian Institute of Accountants (MIA), The Malaysian Institute of Certified Public Accountants (MICPA), ASEAN Chartered Professional Accountants (ASEAN CPA) and a Fellow Member of ACCA United Kingdom.

In addition, she is an associate member of the Chartered Tax Institute of Malaysia (CTIM) as well as a certified member of the Financial Planning Association of Malaysia.
2 0 2 1 Financial Reporting Foundation 48 Management ENCIK CHEE CHOONG YIN Accounts and Administration Manager Encik Chee Choong Yin is the Accounts and Administration Manager responsible for the accounts and daily administrative functions of the Foundation.
He started his career with KPMG and is an experienced financial professional with over 30 years of working experience in local, public listed and multinational corporations, overseeing finance, accounting, treasury, information technology, business management and operations.

He has worked in various industries including retailing and trading, property construction and development, theme park and event management, and manufacturing.
Encik Chee is a member of the Malaysian Institute of Accountants (MIA) and an associate of the Chartered Institute of Management Accountants (CIMA).

He holds a Master of Business Administration degree from Heriot Watt University, UK.

ENCIK FOO YOKE PIN Project Director (MFRS Implementation Activities) Encik Foo Yoke Pin is the Project Director in charge of implementation issues of the Malaysian Financial Reporting Standards.
He was the Executive Director of The Malaysian Institute of Certified Public Accountants (MICPA) for 12 years and was responsible for the overall operations of the Institute.
He was a member of the Government Accounting Standard Advisory Committee of the Accountant General’s Department of Malaysia, a member of the Advisory Board for School of Business of Curtin University, Miri Campus, an Adjunct Fellow at the School of Business of Universiti Utara Malaysia and a member of the Examination Committee of the Malaysian Institute of Accountants (MIA).

He was appointed as an Adjunct Associate Professor at Taylor’s College from 1 January 2020.
He started his career pursuing his articleship with KPMG, and was last attached with a public listed company in Singapore as Regional Financial Controller for the Asia Pacific region.

He has more than 15 years of working experience in the area of finance and accounting.

Encik Foo is a member of the MICPA and MIA.

He holds a Master of Business Administration degree from Universiti Putra Malaysia (UPM).
49 Financial Reporting Foundation 2 0 2 1 Management CIK CHEW LAM KOON Project Director (Standard-setting Activities) Cik Chew Lam Koon, Project Director, provides support for the standard-setting activities of the MASB.

She is an experienced financial professional with over 30 years of working experience in the finance and accounting functions of corporations as well as 15 years with PwC.

As an IFRS specialist at PwC, she worked on various clients' engagements across industries.
Ms Chew graduated from the National University of Singapore and is a member of the Malaysian Institute of Accountants (MIA).

She had also served as a member of the MIA Financial Statements Review Committee.

PUAN NADIAH ISMAIL Assistant Associate Director Puan Nadiah Ismail is the Assistant Associate Director responsible for standard-setting activities and also the project on financial reporting from an Islamic perspective.
Prior to joining FRF/MASB in 2013, she was with KPMG and performed audits of local and multinational companies in industries such as entertainment, property development, retail and services.

Puan Nadiah holds a Bachelor of Accountancy from Universiti Malaya and is a member of the Malaysian Institute of Accountants (MIA) and Fellow Member of the Association of Chartered Certified Accountants (ACCA).
2 0 2 1 Financial Reporting Foundation 50 Technical Team Name Mr. Angus Thomson Puan Idawaty Mohd Hasan Puan Cathrine Su Ju Ming Mohd Noor Afiq Noor Azmi Designation Technical Advisor Technical Manager Technical Manager Technical Manager Puan Maisarah Haji Mustapa Senior Technical Executive Cik Fara Naziha Mat Khamal Senior Technical Executive 51 Financial Reporting Foundation 2 0 2 1 TECHNICAL WORK IN 2021 2 0 2 1 Financial Reporting Foundation 52 Technical Work in 2021 The MASB’s mission is to develop and promote high quality accounting and financial reporting standards that are consistent with international best practice for the benefit of users, preparers, auditors and the public in Malaysia.
During the year, MASB issued five (5) Amendments to MFRS Standards, three (3) Technical Pronouncements and notifications for seven (7) Agenda Decisions published by the IFRS Interpretations Committee (IFRIC).

Twenty-three (23) draft technical pronouncements were issued for public comment.

They comprised one (1) IFRS Foundation Exposure Draft, two (2) IASB Requests for Information, nine (9) IASB Exposure Drafts, nine (9) IFRIC Tentative Agenda Decisions and two (2) MASB draft technical pronouncements.
In addition, MASB reviewed and provided comment on twenty-one (21) draft technical pronouncements.

They comprised one (1) IFRS Foundation Exposure Draft, two (2) IASB Requests for Information, one (1) IASB Discussion Paper, six (6) IASB Exposure Drafts and eleven (11) IFRIC Tentative Agenda Decisions.

Details of the above are set out in the respective sections.
53 Financial Reporting Foundation 2 0 2 1 Final Pronouncements – MFRS Framework Five (5) Amendments to MFRS Standards which are identical to the Amendments to IFRS Standards issued by the IASB and three (3) Technical Pronouncements were issued during the year: Amendments to MFRS Standards No.
1 Title Disclosure of Accounting Policies (Amendments to MFRS 101 Presentation of Financial Statements and MFRS Practice Statement 2 Making Materiality Judgements) 2 3 4 5 Definition of Accounting Estimates (Amendments to MFRS 108 Accounting Policies, Changes in Accounting Estimates and Errors) Covid-19-Related Rent Concessions beyond 30 June 2021 (Amendment to MFRS 16 Leases) Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments to MFRS 112 Income Taxes) Initial Application of MFRS 17 and MFRS 9— Comparative Information (Amendment to MFRS 17 Insurance Contracts) Technical Pronouncements No.
1 Title Preface to Technical Pronouncements and Guidance Issue Date 15 March 2021 Effective Date 1 January 2023 15 March 2021 1 January 2023 6 April 2021 1 April 2021 30 June 2021 1 January 2023 30 December 2021 1 January 2023 Issue Date February 2021 May 2021 2 3 * MFRS Application and Implementation Guide (MAIG) 3 Preparation of consolidated financial statements for a group which had disposed of its only subsidiary during the financial year* Issues Bulletin 3 Reporting Qard in the Takaful Fund Column within Takaful Entity Financial Statements** June 2021 Refer to Objective 6 in SPA 1/2012 Report for information about this Technical Pronouncement being part of the Board’s objective to monitor the application of the MASB approved accounting standards and the MFRS Application and Implementation Committee (MAIC) section for the Board’s other implementation activities.
** Refer to Objective 5 in SPA 1/2012 Report for information about this Technical Pronouncement being part of the Board’s objective to promote and support research in the area of financial reporting, in particular for the emerging and Islamic markets.
2 0 2 1 Financial Reporting Foundation 54 Summaries of Amendments to MFRS Standards issued in 2021 Disclosure of Accounting Policies (Amendments to MFRS 101 Presentation of Financial Statements and MFRS Practice Statement 2 Making Materiality Judgements) is identical to Disclosure of Accounting Policies (Amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgements) as issued by the IASB.
The Amendments to MFRS 101 requires entities to disclose their material accounting policy information rather than their significant accounting policies.

The Amendments, among others, includes examples of circumstances in which an entity is likely to consider an accounting policy information to be material to its financial statements.
To support the Amendments to MFRS 101, MFRS Practice Statement 2 was also amended to provide guidance on how to apply the concept of materiality to accounting policy information disclosures.

The guidance and examples provided in the MFRS Practice Statement 2 highlight the need to focus on entity-specific information in addressing standardised (or boilerplate) information and duplication of requirements of MFRS Standards in the accounting policy information disclosures.
The Amendments to MFRS 101 shall apply for annual reporting periods beginning on or after 1 January 2023.

Earlier application is permitted.

Definition of Accounting Estimates (Amendments to MFRS 108 Accounting Policies, Changes in Accounting Estimates and Errors) is identical to Definition of Accounting Estimates (Amendments to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors) as issued by the IASB.
The Amendments to MFRS 108 introduces the definition of accounting estimates to clarify how companies should distinguish changes in accounting policies from changes in accounting estimates.

The distinction is important because changes in accounting estimates are applied prospectively to transactions, other events, or conditions from the date of that change, but changes in accounting policies are generally also applied retrospectively to past transactions and other past events.
The Amendments to MFRS 108 shall apply for annual reporting periods beginning on or after 1 January 2023.

Earlier application is permitted.

Covid-19-Related Rent Concessions beyond 30 June 2021 (Amendment to MFRS 16 Leases) is identical to Covid-19-Related Rent Concessions beyond 30 June 2021 (Amendment to IFRS 16 Leases) as issued by the IASB.
The original amendment, Covid-19-Related Rent Concessions (Amendment to MFRS 16 Leases), was issued on 5 June 2020 to make it easier for lessees to account for COVID-19-related rent concessions, such as rent holidays and temporary rent reductions, while continuing to provide useful information about their leases to investors.
The 2020 amendment exempts lessees from having to consider individual lease contracts to determine whether rent concessions occurring as a direct consequence of the COVID-19 pandemic are lease modifications and allows lessees to account for such rent concessions as if they were not lease modifications.
This Amendment extends the availability of the practical expedient provided in 2020 so that it applies to rent concessions for which any reduction in lease payments affects only payments originally due on or before 30 June 2022, provided the other conditions for applying the practical expedient are met.

Amendment to MFRS 16 shall apply for annual reporting periods beginning on or after 1 April 2021.
Earlier application is permitted, including in financial statements not authorised for issue at 31 March 2021.

Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments to MFRS 112 Income Taxes) is identical to Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments to IAS 12 Income Taxes) as issued by the IASB.
The Amendments to MFRS 112 specifies how companies should account for deferred tax on transactions such as leases and decommissioning obligations.

55 Financial Reporting Foundation 2 0 2 1 Summaries of Amendments to MFRS Standards issued in 2021 In specified circumstances, MFRS 112 exempts companies from recognising deferred tax when they recognise assets or liabilities for the first time.
There had been some uncertainties about whether the exemption from recognising deferred tax applied to transactions such as leases and decommissioning obligations – transactions for which companies recognise both an asset and a liability.

The Amendments clarifies that the exemption does not apply and that companies are required to recognise deferred tax on such transactions.

Such clarification is expected to reduce diversity in the reporting of deferred tax on leases and decommissioning obligations.
The Amendments to MFRS 112 shall apply for annual reporting periods beginning on or after 1 January 2023.

Earlier application is permitted.

to Initial Application of MFRS 17 and MFRS 9—Comparative MFRS 17 Insurance Contracts) is identical to Initial Application of IFRS 17 and IFRS 9—Comparative Information (Amendment to IFRS 17 Insurance Contracts) as issued by the IASB.
(Amendment Information The Amendment relates to the transition requirements of MFRS 17 only—it does not affect any other requirements of the Standard.

In view of the different transition requirements in MFRS 17 and MFRS 9 Financial Instruments, these can cause temporary accounting mismatches between financial assets and insurance contract liabilities in the comparative information presented on initial application of MFRS 17 and MFRS 9.
The Amendment will help insurers to avoid these temporary accounting mismatches by providing insurers with an option for the presentation of comparative information about financial assets as if the classification and measurement requirements of MFRS 9 had been applied to that financial asset.

MFRS 17, including this Amendment, is effective for annual reporting periods beginning on or after 1 January 2023.
2 0 2 1 Financial Reporting Foundation 56 Summaries of Technical Pronouncements issued in 2021 Preface to Technical Pronouncements and Guidance (Preface) serves to explain the different types of technical pronouncements issued by the Board as well as other educational guidance that are available to assist stakeholders in the implementation of MASB Approved Accounting Standards.
The Preface will also be useful as the Board’s reference guide to the naming convention of the different types of technical pronouncements.

The Preface replaces Foreword to MASB Standards and Other MASB Technical Pronouncements issued by the Board in 1998.
MAIG 3 Preparation of consolidated financial statements for a group which had disposed of its only subsidiary during the financial year was issued in response to a request received by the MAIC about the requirement of preparing consolidated financial statements for a group which had disposed of its only subsidiary during the financial year.

In the fact pattern described in the request, an investor had a subsidiary for many years and had been preparing consolidated financial statements.
However, during the year ended 31 December 2019, the investor disposed of its only subsidiary on 30 June 2019.

The request asks whether the investor would need to prepare consolidated financial statements for the year ended 31 December 2019.
Based on the fact pattern, the MAIC concluded that consolidated financial statements must be prepared by the investor for the year ended 31 December 2019 because the investor was a parent during the reporting period, even though it is no longer a parent at the end of the reporting period.
Issues Bulletin 3 Reporting Qard in the Takaful Fund Column within Takaful Entity Financial Statements is the third in a series of technical pronouncements issued by the Board on the application of MFRS Standards to Takaful.

Issues Bulletin 3 was issued to address the accounting for qard in the context of a takaful operator’s obligation to contribute qard to a takaful fund in order to rectify a deficit under section 95 of the Islamic Financial Services Act 2013.
Issues Bulletin 3 concludes that from the takaful fund perspective, qard forms part of fulfilment cash flows under MFRS 17.

The Board also considered the accounting implications of qard in the event that a takaful entity chooses to prepare separate takaful operator column in its financial statements and hence has issued Annex to the Issues Bulletin which contains discussion and guidance on qard from the perspective of the takaful operator.
57 Financial Reporting Foundation 2 0 2 1 IFRIC Agenda Decisions During the year, MASB issued notifications for the following IFRIC Agenda Decisions: No.
Title IFRS 9 Financial Instruments 1 Hedging Variability in Cash Flows Due to Real Interest Rates IFRS 16 Leases 2 Non-refundable Value Added Tax on Lease Payments IAS 2 Inventories 3 Costs Necessary to Sell Inventories IAS 10 Events after the Reporting Period 4 Preparation of Financial Statements when an Entity is No Longer a Going Concern IAS 19 Employee Benefits 5 Attributing Benefit to Periods of Service IAS 32 Financial Instruments: Presentation 6 Accounting for Warrants that are Classified as Financial Liabilities on Initial Recognition Notification issued in June 2021 November 2021 July 2021 July 2021 June 2021 November 2021 IAS 38 Intangible Assets 7 Configuration or Customisation Costs in a Cloud Computing Arrangement May 2021 2 0 2 1 Financial Reporting Foundation 58 Summaries of IFRIC Agenda Decisions notified in 2021 The IFRIC works with the IASB in supporting the consistent application of IFRS Standards.
IFRIC projects typically begin as an application question submitted for consideration.

The IFRIC then decides whether a standard-setting project should be added to the work plan to address the question submitted.
The IFRIC may decide not to do so if it concludes that standard-setting would be: ● ● unnecessary – typically because, in the IFRIC’s view, IFRS Standards provide an adequate basis for a company to determine the required accounting or because there is no evidence that a widespread accounting problem exists; or not sufficiently narrow in scope – the question could be resolved only as a part of a larger IASB project (not a narrow-scope project).
To explain why a standard-setting project is not added, the IFRIC publishes an Agenda Decision to report its decision and, in many cases, also includes explanatory material to improve the consistent application of IFRS Standards.

It does so by explaining how the applicable principles and requirements in the Standards apply to the transaction or fact pattern described in the agenda decision.
During the year, MASB issued notifications for the following Agenda Decisions as published by the IFRIC: (1) Hedging Variability in Cash Flows due to Real Interest Rates (IFRS 9 Financial Instruments) The IFRIC received a request about applying the hedge accounting requirements in IFRS 9 when the risk management objective is to ‘fix’ the cash flows in real terms.
Given that the request asked whether the real interest rate component could be designated as a risk component in a cash flow hedge, the IFRIC’s analysis focused on whether a non-contractually specified real interest rate risk component is separately identifiable and reliably measurable in the context of the proposed cash flow hedging relationship described in the request.
The IFRIC concluded that the requirements in IFRS 9 provide an adequate basis for an entity to determine whether a hedge of the variability in cash flows arising from changes in the real interest rate, rather than the nominal interest rate, could be accounted for as a cash flow hedge.

(2) Non-refundable Value Added Tax on Lease Payments (IFRS 16 Leases) The IFRIC received a request about how a lessee accounts for any non-refundable value added tax (VAT) charged on lease payments.
The request asked whether, in applying IFRS 16, the lessee includes non-refundable VAT as part of the lease payments for a lease.

Outreach conducted by the IFRIC and comment letters on the IFRIC’s tentative agenda decision provided limited evidence: (a) that non-refundable VAT on lease payments is material to affected lessees; and (b) of diversity in the way lessees in similar circumstances account for non-refundable VAT on lease payments.
The IFRIC has therefore not received evidence that the matter has widespread effect and has, or is expected to have, a material effect on those affected.

(3) Costs Necessary to Sell Inventories (IAS 2 Inventories) The IFRIC received a request about the costs an entity includes as the ‘estimated costs necessary to make the sale’ when determining the net realisable value of inventories.
In particular, the request asked 59 Financial Reporting Foundation 2 0 2 1 Summaries of IFRIC Agenda Decisions notified in 2021 whether an entity includes all costs necessary to make the sale or only those that are incremental to the sale.

The IFRIC concluded that: (a) when determining the net realisable value of inventories, an entity estimates the costs necessary to make the sale in the ordinary course of business.
An entity uses its judgement to determine which costs are necessary to make the sale considering its specific facts and circumstances, including the nature of the inventories.

(b) the principles and requirements in IFRS Standards provide an adequate basis for an entity to determine whether the estimated costs necessary to make the sale are limited to incremental costs when determining the net realisable value of inventories.
(4) Preparation of Financial Statements when an Entity is No Longer a Going Concern (IAS 10 Events after the Reporting Period) The IFRIC received a request about the accounting applied by an entity that is no longer a going concern (as described in paragraph 25 of IAS 1 Presentation of Financial Statements).
The request asked whether such an entity: (a) can prepare financial statements for prior periods on a going concern basis if it was a going concern in those periods and has not previously prepared financial statements for those periods; and (b) restates comparative information to reflect the basis of accounting used in preparing the current period’s financial statements if it had previously issued financial statements for the comparative period on a going concern basis.
The IFRIC: (a) concluded that the principles and requirements in IFRS Standards provide an adequate basis for an entity that is no longer a going concern to determine whether it prepares its financial statements on a going concern basis.

Applying paragraph 25 of IAS 1 and paragraph 14 of IAS 10, an entity that is no longer a going concern cannot prepare financial statements (including those for prior periods that have not yet been authorised for issue) on a going concern basis.
(b) observed that based on its research, no diversity in the application of IFRS Standards with respect to issue (b) on comparative restatement.

Therefore, the IFRIC has not obtained evidence that the matter has widespread effect.

(5) Attributing Benefit to Periods of Service (IAS 19 Employee Benefits) The IFRIC received a request about the periods of service to which an entity attributes benefit for a particular defined benefit plan.
Under the terms of the plan: (a) employees are entitled to a lump sum benefit payment when they reach a specified retirement age provided they are employed by the entity when they reach that retirement age; and (b) the amount of the retirement benefit to which an employee is entitled depends on the length of employee service with the entity before the retirement age and is capped at a specified number of consecutive years of service.
For the defined benefit plan illustrated in this agenda decision, the IFRIC concluded that the entity attributes retirement benefit to each year in which an employee renders service from the age of 46 to the age of 62 (or, if employment commences on or after the age of 46, from the date the employee first renders service to the age of 62).

The IFRIC’s conclusion aligns with the outcome set out in the first part of Example 2 illustrating paragraph 73, which is part of IAS 19.
The IFRIC concluded that the principles and requirements in IFRS Standards provide an adequate basis for an entity to determine the periods to which retirement benefit is attributed in the fact pattern described in the request.
2 0 2 1 Financial Reporting Foundation 60 Summaries of IFRIC Agenda Decisions notified in 2021 (6) Accounting for Warrants that are Classified as Financial Liabilities on Initial Recognition (IAS 32 Financial Instruments: Presentation) The IFRIC received a request about the application of IAS 32 in relation to the reclassification of warrants.
Specifically, the request described a warrant that provides the holder with the right to buy a fixed number of equity instruments of the issuer of the warrant for an exercise price that will be fixed at a future date.

At initial recognition, because of the variability in the exercise price, the issuer in applying paragraph 16 of IAS 32 classifies these instruments as financial liabilities.
This is because for a derivative financial instrument to be classified as equity, it must be settled by the issuer exchanging a fixed amount of cash or another financial asset for a fixed number of its own equity instruments (fixed-for-fixed condition).
The request asked whether the issuer reclassifies the warrant as an equity instrument following the fixing of the warrant’s exercise price after initial recognition as specified in the contract, given that the fixed-for-fixed condition would at that stage be met.

The IFRIC observed that IAS 32 contains no general requirements for reclassifying financial liabilities and equity instruments after initial recognition when the instrument’s contractual terms are unchanged.
The IFRIC acknowledged that similar questions about reclassification arise in other circumstances.

Reclassification by the issuer has been identified as one of the practical issues the IASB will consider addressing in its Financial Instruments with Characteristics of Equity (FICE) project.

The IFRIC concluded that the matter described in the request is, in isolation, too narrow for the IASB or the IFRIC to address in a cost-effective manner.
Instead, the IASB should consider the matter as part of its broader discussions on the FICE project.

(7) Configuration or Customisation Costs in a Cloud Computing Arrangement (IAS 38 Intangible Assets) The IFRIC received a request about how a customer accounts for costs of configuring or customising a supplier’s application software in a Software as a Service (SaaS) arrangement.
In analysing the request, the IFRIC considered: (a) whether, applying IAS 38, the customer recognises an intangible asset in relation to configuration or customisation of the application software; and (b) if an intangible asset is not recognised, how the customer accounts for the configuration or customisation costs.
The IFRIC observed that: (a) in the SaaS arrangement described in the request, the customer often would not recognise an intangible asset because it does not control the software being configured or customised and those configuration or customisation activities do not create a resource controlled by the customer that is separate from the software.
(b) if the customer does not recognise an intangible asset in relation to configuration or customisation of the application software, it applies paragraphs 68-70 of IAS 38 to account for those costs.

In addition, paragraphs 117-124 of IAS 1 require the customer to disclose its accounting policy for configuration or customisation costs when that disclosure is relevant to an understanding of its financial statements.
The IFRIC concluded that the principles and requirements in IFRS Standards provide an adequate basis for a customer to determine its accounting for configuration or customisation costs incurred in relation to the SaaS arrangement described in the request.

61 Financial Reporting Foundation 2 0 2 1 Draft Technical Pronouncements Twenty-three (23) draft technical pronouncements were issued for public comment in 2021.
They comprise one (1) IFRS Foundation Exposure Draft, two (2) IASB Requests for Information, nine (9) IASB Exposure Drafts, nine (9) IFRIC Tentative Agenda Decisions and two (2) MASB draft technical pronouncements; details of which are provided below.

No.
Title IFRS Foundation Exposure Draft 1 ED/2021/5 Proposed Targeted Amendments to the IFRS Foundation Constitution to Accommodate an International Sustainability Standards Board to Set IFRS Sustainability Standards IASB Requests for Information Third Agenda Consultation 2 3 Post-implementation Review of IFRS 9 Financial Instruments—Classification and Measurement IASB Exposure Drafts 4 ED/2021/1 Regulatory Assets and Regulatory Liabilities ED/2021/2 Covid-19-Related Rent Concessions beyond 30 June 2021 (Proposed amendment to IFRS 16 Leases) ED/2021/3 Disclosure Requirements in IFRS Standards—A Pilot Approach (Proposed amendments to IFRS 13 Fair Value Measurement and IAS 19 Employee Benefits) ED/2021/4 Lack of Exchangeability (Proposed amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates) ED/2021/6 Management Commentary ED/2021/7 Subsidiaries without Public Accountability: Disclosures ED/2021/8 Initial Application of IFRS 17 and IFRS 9— Comparative Information (Proposed amendment to IFRS 17 Insurance Contracts) ED/2021/9 Non-current Liabilities with Covenants (Proposed amendments to IAS 1 Presentation of Financial Statements) ED/2021/10 Supplier Finance Arrangements (Proposed amendments to IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures) IFRIC Tentative Agenda Decisions 13 Costs Necessary to Sell Inventories (IAS 2 Inventories) 14 15 16 Preparation of Financial Statements when an Entity is No Longer a Going Concern (IAS 10 Events after the Reporting Period) Non-refundable Value Added Tax on Lease Payments (IFRS 16 Leases) Accounting for Warrants that are Classified as Financial Liabilities on Initial Recognition (IAS 32 Financial Instruments: Presentation) Issue Date Comment due date to MASB 3 May 2021 30 June 2021 2 April 2021 13 August 2021 1 October 2021 31 December 2021 2 February 2021 30 June 2021 11 February 2021 19 February 2021 2 April 2021 18 November 2021 26 April 2021 30 July 2021 1 June 2021 29 July 2021 22 October 2021 10 December 2021 29 July 2021 27 August 2021 23 November 2021 22 February 2022 30 November 2021 28 February 2022 16 February 2021 19 March 2021 16 February 2021 19 March 2021 2 April 2021 30 April 2021 2 April 2021 30 April 2021 2 0 2 1 Financial Reporting Foundation 62 Draft Technical Pronouncements No.
Title Economic Benefits from Use of a Windfarm (IFRS 16 Leases) TLTRO III Transactions (IFRS 9 Financial Instruments and IAS 20 Accounting for Government Grants and Disclosure of Government Assistance) Cash Received via Electronic Transfer as Settlement for a Financial Asset (IFRS 9 Financial Instruments) Demand Deposits with Restrictions on Use (IAS 7 Statement of Cash Flows) Principal versus Agent: Software Reseller (IFRS 15 Revenue from Contracts with Customers) MASB Draft Technical Pronouncements 22 ED 78 Preparation of consolidated financial statements for a group which had disposed of its only subsidiary during the financial year 23 Draft Issues Bulletin 3 Reporting Qard in the Takaful Fund Column within Takaful Entity Financial Statements# # Distributed to targeted groups for feedback Issue Date 21 June 2021 Comment due date to MASB 16 July 2021 21 June 2021 16 July 2021 27 September 2021 25 October 2021 27 September 2021 25 October 2021 13 December 2021 14 January 2022 22 February 2021 24 March 2021 18 February 2021 12 March 2021 63 Financial Reporting Foundation 2 0 2 1 Summaries of Draft Technical Pronouncements issued in 2021 IFRSF Exposure Draft ED/2021/5 Proposed Targeted Amendments to the IFRS Foundation Constitution to Accommodate an International Sustainability Standards Board to Set IFRS Sustainability Standards In April 2021, the IFRS Foundation (IFRSF) proposed amendments to the Constitution of the IFRSF to accommodate the potential formation and operation of a new International Sustainability Standards Board (ISSB) within the governance structure of the organisation.
The amendments include revisions to the objectives of the IFRSF and the institutional arrangements for the ISSB.

The proposed amendments respond to the feedback to the Consultation Paper on Sustainability Reporting (Consultation Paper) issued by the IFRSF in September 2020 which confirmed that there was indeed an urgent need for global sustainability reporting standards.
In addition, there was broad agreement among the respondents to the Consultation Paper that the IFRSF should play a leading role in the development of such standards.

The proposed targeted amendments to the Constitution were published to seek input on (a) whether the proposed governance structure would provide legitimate oversight of the standard-setting by a new board; and (b) whether the proposed amendments are proportionate to the IFRSF’s strategy in relation to the potential work of the new board.
The Foundation and MASB take cognisance of the international developments on sustainability reporting and have been closely monitoring the developments since the issuance of the Consultation Paper.

In this regard, MASB has established Working Group (WG) 71 Sustainability Reporting to provide a platform for stakeholders to discuss and provide feedback on the draft technical pronouncements issued by the IFRSF.
WG 71 had its inaugural meeting in September 2021 and it comprised: Chairperson : Datuk Mohd Nasir Ahmad Project Manager Members : Herbert Chua (PricewaterhouseCoopers PLT) : Dato’ Mohammad Faiz Azmi (representatives from) Aberdeen Standard Islamic Investments (Malaysia) Sdn Bhd Allianz Malaysia Boustead Heavy Industries Corporation Berhad Employees Provident Fund Great Eastern Takaful Berhad Institutional Investors Council Malaysia Kossan Rubber Industries Bhd Malayan Banking Berhad PETRONAS RAM Sustainability Sdn Bhd Tenaga Nasional Berhad BDO PLT Ernst & Young PLT KPMG PLT Universiti Sains Malaysia Bank Negara Malaysia Companies Commission of Malaysia 2 0 2 1 Financial Reporting Foundation 64 Summaries of Draft Technical Pronouncements issued in 2021 IASB Request for Information Third Agenda Consultation The IASB undertakes a public consultation on its activities and its work plan every five years (agenda consultation).
The objective of this agenda consultation is to gather views on: ● ● the strategic direction and balance of the IASB’s activities; the criteria for assessing the priority of financial reporting issues that could be added to the work plan; and ● new financial reporting issues that could be given priority in the IASB’s work plan.

Responses to this Request for Information will help shape the IASB’s thinking when determining how to prioritise its activities and new projects in its work plan for 2022 to 2026.
This agenda consultation focuses on activities within the current scope of the IASB’s work – financial statements and management commentary for profit-oriented companies.

WG 51 Improvements Project, Interpretations Committee (IC) and MFRS Application and Implementation Committee (MAIC) were given the responsibility to deliberate the above draft technical pronouncement.
WG 51 comprised: Chairperson : Encik Lee Kong Weng Project Manager : MASB Secretariat Members / Invitees : Tenaga Nasional Berhad (representatives from) BDO PLT Deloitte PLT KPMG PLT PricewaterhouseCoopers PLT International Islamic University Malaysia Federation of Public Listed Companies Berhad Malaysian Institute of Accountants The Association of Banks in Malaysia The Malaysian Institute of Certified Public Accountants Bursa Malaysia Berhad Companies Commission of Malaysia Securities Commission Malaysia The IC comprised: Chairperson : Datuk Mohd Nasir Ahmad Project Manager : MASB Secretariat Members : Puan Farnida Ngah (UMW Holdings Berhad) (appointed on 1 January 2022) Encik Chua Siam Keong (resigned on 31 December 2021) Puan Sim Siew Shan (Airasia Berhad) (appointed on 1 January 2022) Puan Wong Yee Fun (Genting Berhad) (retired on 31 December 2021) Puan Ho Say Keng (YTL Corporation Berhad) Encik Tang Seng Choon (BDO PLT) 65 Financial Reporting Foundation 2 0 2 1 Summaries of Draft Technical Pronouncements issued in 2021 Encik Edwin Tan Aik Win (Deloitte PLT) Encik Teoh Soo Hock (Ernst & Young PLT) Encik Thong Foo Vung (KPMG PLT) Cik Siew Kar Wai (PricewaterhouseCoopers PLT) Encik Kevin Lim Chong Yeow (RAM Holdings Berhad) Dato’ Megat Iskandar Shah Mohamad Nor (The Malaysian Institute of Certified Public Accountants) Encik Jalalullail Othman (Shook Lin & Bok) Assoc.
Prof. Dr. Fatima Abdul Hamid (International Islamic University Malaysia) Observers : Bank Negara Malaysia (representatives from) Bursa Malaysia Berhad Companies Commission of Malaysia Malaysian Institute of Accountants Securities Commission Malaysia For MAIC, refer to the MFRS Application and Implementation Committee section of this Annual Report.
IASB Request for Information: Post-implementation Review of IFRS 9 Financial Instruments— Classification and Measurement The IASB is undertaking a post-implementation review of IFRS 9 Financial Instruments.

IFRS 9 replaced IAS 39 Financial Instruments: Recognition and Measurement.
Improvements to the accounting for financial instruments introduced by IFRS 9 compared to IAS 39 include: ● ● ● a classification and measurement approach for financial assets that reflects the entity’s business model and the asset’s cash flow characteristics.

a forward-looking expected credit loss model that results in more timely recognition of loan losses.

a hedge accounting model with a better link between the economics of risk management and its accounting treatment.
IFRS 9 has been in effect since 2018.

The post-implementation review of IFRS 9 will be done in phases, starting with this Request for Information by looking at the classification and measurement requirements in IFRS 9 and related disclosures.

The post-implementation review of the impairment and hedge accounting requirements will follow later.
WG 60 Financial Instruments: Recognition and Measurement was given the responsibility to deliberate the above draft technical pronouncement, and comments from an Islamic financial reporting perspective were also sought from the Standing Committee on Islamic Financial Reporting.
WG 60 comprised: Chairperson : Encik Chan Hooi Lam Project Manager : Dato’ Megat Iskandar Shah Mohamad Nor (Ernst & Young PLT) Members / Invitees : AmBank Group Berhad (representatives from) HSBC Bank Malaysia Berhad Permodalan Nasional Berhad Public Bank Berhad RAM Holdings Berhad Telekom Malaysia Berhad 2 0 2 1 Financial Reporting Foundation 66 Summaries of Draft Technical Pronouncements issued in 2021 Tenaga Nasional Berhad Deloitte PLT KPMG PLT PricewaterhouseCoopers PLT Association of Islamic Banking and Financial Institutions Malaysia Federation of Public Listed Companies Berhad Life Insurance Association of Malaysia Malaysian Association of Asset Managers Malaysian Institute of Accountants Malaysian Investment Banking Association The Association of Banks in Malaysia Bank Negara Malaysia Bursa Malaysia Berhad Companies Commission of Malaysia Securities Commission Malaysia IASB Exposure Draft ED/2021/1 Regulatory Assets and Regulatory Liabilities introduces proposals for a new accounting standard The Exposure Draft that would require companies subject to rate regulation to report regulatory assets and regulatory liabilities in their balance sheet, and related regulatory income and regulatory expense in their income statement.
This information would complement the information companies already provide applying current IFRS Standards and give investors a more complete picture.

The additional information would help investors understand which fluctuations in the relationship between a company’s revenue and expenses are caused by differences in timing and enable investors to make better assessments of the company’s prospects for future cash flows.
If issued as a new IFRS Standard, the IASB’s proposals would replace IFRS 14 Regulatory Deferral Accounts, an interim Standard that permits a variety of accounting approaches for the effects of rate regulation to continue temporarily.
WG 68 Rate-regulated Activities was given the responsibility to deliberate the above draft technical pronouncement, and it comprised: Chairperson Project Manager : : Encik New Kheng Chee Encik Irvin Menezes (PricewaterhouseCoopers PLT) Members / Invitees : Gas Malaysia Berhad (representatives from) PETRONAS Gas Berhad Taliworks Corporation Berhad Telekom Malaysia Berhad Tenaga Nasional Berhad YTL Corporation Berhad Deloitte PLT KPMG PLT Malaysian Institute of Accountants Companies Commission of Malaysia 67 Financial Reporting Foundation 2 0 2 1 Summaries of Draft Technical Pronouncements issued in 2021 Inland Revenue Board of Malaysia Securities Commission Malaysia IASB Exposure Draft ED/2021/2 Covid-19-Related Rent Concessions beyond 30 June 2021 (Proposed amendment to IFRS 16 Leases) In May 2020, the IASB issued Covid-19-Related Rent Concessions (Amendment to IFRS 16) which permitted lessees, as a practical expedient, not to assess whether particular rent concessions occurring as a direct consequence of the COVID-19 pandemic are lease modifications and, instead, to account for those rent concessions as if they were not lease modifications.
The period covered in this amendment is for lease payments originally due on or before 30 June 2021.

In response to calls from stakeholders and because the COVID-19 pandemic is still at its height, the IASB proposed to extend the relief to rent concessions for which any reduction in lease payments affects only payments originally due on or before 30 June 2022, provided the other conditions for applying the practical expedient are met.
WG 67 Leases was given the responsibility to deliberate the above draft technical pronouncements, and it comprised: Chairperson : Dato’ Soo Chan Fai Project Manager Members / Invitees : : Encik Thong Foo Vung (KPMG PLT) AirAsia Group Berhad (representatives from) Permodalan Nasional Berhad Tenaga Nasional Berhad PricewaterhouseCoopers PLT Federation of Public Listed Companies Berhad Malaysian Institute of Accountants Malaysian REIT Managers Association Bank Negara Malaysia Bursa Malaysia Berhad Securities Commission Malaysia IASB Exposure Draft ED/2021/3 Disclosure Requirements in IFRS Standards—A Pilot Approach (Proposed amendments to IFRS 13 Fair Value Measurement and IAS 19 Employee Benefits) The IASB has developed guidance for itself when developing and drafting disclosure requirements in IFRS Standards in future (proposed Guidance).
The IASB has applied the proposed Guidance to develop proposed amendments to the disclosure sections of IFRS 13 and IAS 19.

The IASB is publishing this Exposure Draft to obtain feedback on both the proposed Guidance and the proposed amendments to IFRS 13 and IAS 19.

These proposals would enable companies to enhance their judgement and reduce ‘boilerplate’ information, giving investors more useful information.
Financial statements sometimes include too little relevant information, too much irrelevant information and information disclosed ineffectively.

Stakeholders say this typically occurs when the requirements in IFRS Standards are treated like a checklist without applying effective judgement.
Responding to stakeholder demand for the IASB’s help in addressing these issues, the IASB has set out 2 0 2 1 Financial Reporting Foundation 68 Summaries of Draft Technical Pronouncements issued in 2021 a new approach to developing the disclosure requirements in IFRS Standards.

Disclosure requirements developed using this approach are intended to better enable companies, auditors and others to make more effective materiality judgements and thus provide disclosures that are more useful to investors.
The IASB will consider feedback on this Exposure Draft in determining whether to use the proposed Guidance in its standard-setting activities in future.

If the IASB decides to use the proposed Guidance in its standard-setting activities in future, the proposed Guidance may be updated in light of the feedback on this Exposure Draft.
WG 70 Disclosure Initiative was given the responsibility to deliberate the above draft technical pronouncement, and it comprised: Chairperson Project Manager : : Encik Lee Kong Weng Encik Danny Tan Boon Wooi (CR Consultancy) Members / Invitees : CIMB Islamic Bank Berhad (representatives from) Malayan Banking Berhad Malaysian Rating Corporation Berhad Sime Darby Berhad Telekom Malaysia Berhad Tenaga Nasional Berhad Ernst & Young PLT KPMG PLT PricewaterhouseCoopers PLT Federation of Public Listed Companies Berhad Malaysian Institute of Accountants The Malaysian Institute of Certified Public Accountants Bank Negara Malaysia Bursa Malaysia Berhad Companies Commission of Malaysia Securities Commission Malaysia IASB Exposure Draft ED/2021/4 Lack of Exchangeability IAS 21 The Effects of Changes in Foreign Exchange Rates) (Proposed amendments to The proposed amendments to IAS 21 aim to help companies determine whether a currency can be exchanged into another currency, and what accounting to apply if the currency cannot be exchanged.
IAS 21 sets out the exchange rate a company uses when it reports foreign currency transactions or a foreign operation’s results in a different currency.

However, the Standard does not set out the exchange rate to use when there is no observable exchange rate the company can use – such as when a currency cannot be converted into a foreign currency.
The IASB is therefore proposing to add requirements to IAS 21 for an entity to determine whether a currency is exchangeable into another currency, and accounting requirements to apply when it is not.

The proposed amendments would improve the usefulness of the information provided to investors by requiring a consistent approach to determining whether a currency is exchangeable into another currency and, when it is not, determining the exchange rate to use and the disclosures to provide.
69 Financial Reporting Foundation 2 0 2 1 Summaries of Draft Technical Pronouncements issued in 2021 WG 51 was given the responsibility to deliberate the above draft technical pronouncement.

Details of WG 51 have been included above.


IASB Exposure Draft ED/2021/6 Management Commentary The IASB has developed proposals for a comprehensive new framework that would enable companies to bring together in management commentary the information investors and creditors need to assess a company’s long-term prospects.

The proposed framework represents a major overhaul of IFRS Practice Statement 1 Management Commentary.
It builds on innovations in narrative reporting and would enable companies to bring together in one place the information investors need to assess a company’s long-term prospects – such as information about the company’s intangible resources and relationships and about sustainability matters that affect the company.
It also sets out disclosure objectives for information about the company’s business model, strategy, resources and relationships, risks, external environment and financial performance and position; designed to enable companies to identify and provide information that is material to investors, and to enable regulators and auditors to assess compliance with the proposed framework.

If finalised, that framework would replace IFRS Practice Statement 1.
Financial statements can comply with IFRS Standards even if they are not accompanied by management commentary, or if the accompanying management commentary does not comply with the Practice Statement.

The IASB does not propose any changes to those conditions.
WG 58 Management Commentary was given the responsibility to deliberate the above draft technical pronouncement, and it comprised: Chairperson : Dato’ Soo Chan Fai Project Manager : MASB Secretariat Members / Invitees : Axiata Group Berhad (representatives from) KPJ Healthcare Berhad Public Bank Berhad Tenaga Nasional Berhad Deloitte PLT Ernst & Young PLT KPMG PLT PricewaterhouseCoopers PLT Federation of Public Listed Companies Berhad Malaysian Institute of Accountants Bank Negara Malaysia Bursa Malaysia Berhad Companies Commission of Malaysia IASB Exposure Draft ED/2021/7 Subsidiaries without Public Accountability: Disclosures The Exposure Draft sets out a proposal of the IASB for a new IFRS Standard Subsidiaries without Public Accountability: Disclosures (draft Standard).
The proposals respond to feedback from stakeholders and are designed to ease financial reporting for eligible subsidiaries while meeting the needs of the users of their financial statements.
The draft Standard would permit a subsidiary to apply reduced disclosure requirements when applying IFRS Standards in its 2 0 2 1 Financial Reporting Foundation 70 Summaries of Draft Technical Pronouncements issued in 2021 financial statements provided that: (a) the subsidiary does not have public accountability; and (b) its ultimate or any intermediate parent produces consolidated financial statements available for public use that comply with IFRS Standards.
The Exposure Draft proposes a new IFRS Standard that would: (a) be optional for a subsidiary that is eligible to apply it; (b) set out disclosure requirements for a subsidiary that elects to apply the Standard; and (c) specify the disclosure requirements in other IFRS Standards that do not apply and are replaced if a subsidiary elects to apply the draft Standard.
The Exposure Draft was developed considering all IFRS Standards issued by IASB as at 28 February 2021 and exposure drafts published as at 1 January 2021, except for the Exposure Draft General Presentation and Disclosures.

WG 54 Financial Reporting by Small and Medium Entities and WG 70 were given the responsibility to deliberate the above draft technical pronouncement.
WG 54 comprised: Chairperson Project Manager Members / Invitees : : : Encik Lee Kong Weng Encik Danny Tan Boon Wooi (CR Consultancy) Encik Khairuddin Ibrahim (representatives from) Ernst & Young PLT KPMG PLT Mustapha, Khoo & Co PricewaterhouseCoopers PLT Sunway University Federation of Public Listed Companies Berhad Malaysian Institute of Accountants The Associations of Banks in Malaysia The Malaysian Institute of Certified Public Accountants Companies Commission of Malaysia Inland Revenue Board of Malaysia Details of WG 70 have been included above.
IASB Exposure Draft ED/2021/8 Initial Application of IFRS 17 and IFRS 9—Comparative Information (Proposed amendment to IFRS 17 Insurance Contracts) IASB has proposed a narrow-scope amendment The IFRS 17 Insurance Contracts for entities that first apply IFRS 17 and IFRS 9 at the same time.

transition the to requirements of The proposed amendment relates to financial assets for which comparative information presented on initial application of IFRS 17 and IFRS 9 has not been restated for IFRS 9.
Applying the proposed amendment, 71 Financial Reporting Foundation 2 0 2 1 Summaries of Draft Technical Pronouncements issued in 2021 a company would be permitted to present comparative information about such a financial asset as if the classification and measurement requirements of IFRS 9 had been applied to that financial asset.

The Exposure Draft proposes no change to the transition requirements in IFRS 9.
WG 52 Insurance Contracts was given the responsibility to deliberate the above draft technical pronouncement, and it comprised: Chairperson : Encik Ken Pushpanathan Project Manager : Cik Angie Wong (PricewaterhouseCoopers PLT) Members / Invitees : Actuarial Partners Consulting Sdn.

Bhd.
(representatives from) AXA Affin General Insurance Berhad Danajamin Nasional Berhad Etiqa General Insurance Berhad TAS Actuaries Ernst & Young PLT KPMG PLT Life Insurance Association of Malaysia Malaysian Institute of Accountants Malaysian Takaful Association Perbadanan Insurans Deposit Malaysia Persatuan Insurans Am Malaysia Bank Negara Malaysia IASB Exposure Draft ED/2021/9 Non-current Liabilities with Covenants (Proposed amendments to IAS 1 Presentation of Financial Statements) to the IASB IAS 1 Presentation of Financial Statements) issued Classification of Liabilities as Current or Non-current In January 2020, [2020 Amendments].
The 2020 (Amendments Amendments clarified aspects of how entities classify in particular, how an entity assesses whether it has the right to defer settlement of a liability when that right is subject to compliance with specified conditions (often referred to as ‘covenants’) within twelve months after the reporting period.
liabilities as current or non-current; In light of the concerns raised by stakeholders about the outcomes and potential consequences of the 2020 Amendments in some situations as well as new information that the IASB had not considered when developing the Amendments, the IASB decided to propose narrow-scope amendments to IAS 1.
The proposed amendments would: ● ● specify that conditions with which an entity must comply within twelve months after the reporting period do not affect classification of a liability as current or non-current.

Instead, entities would present separately, and disclose information about, non-current liabilities subject to such conditions.
defer the effective date of the 2020 Amendments so that entities are not required to change their assessment of the classification of liabilities before the proposed amendments are in effect.

The IASB concluded that the proposed amendments would improve the information an entity provides when its right to defer settlement of a liability is subject to compliance with conditions, in addition to addressing concerns raised.
2 0 2 1 Financial Reporting Foundation 72 Summaries of Draft Technical Pronouncements issued in 2021 WG 53 Financial Statement Presentation was given the responsibility to deliberate the above draft technical pronouncement and comments were also sought from the IC.
WG 53 comprised: Chairperson Project Manager Members / Invitees (representatives from) : : : Tengku Dato’ Sri Azmil Zahruddin Raja Abdul Aziz Encik Danny Tan Boon Wooi (CR Consultancy) Public Bank Berhad Sime Darby Berhad Telekom Malaysia Berhad Tenaga Nasional Berhad BDO PLT Crowe Malaysia PLT Deloitte PLT Ernst & Young PLT KPMG PLT PricewaterhouseCoopers PLT Federation of Public Listed Companies Berhad Malaysian Institute of Accountants The Malaysian Institute of Certified Public Accountants Bank Negara Malaysia Bursa Malaysia Berhad Companies Commission of Malaysia Securities Commission Malaysia ED/2021/10 Supplier Finance Arrangements (Proposed amendments to IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures) The proposals in this Exposure Draft are intended to complement the disclosure requirements in IFRS Standards that apply to reverse factoring and similar arrangements (as explained in the Agenda Decision Supply Chain Financing Arrangements—Reverse Factoring published by the IFRIC in December 2020).
The proposed amendments to IAS 7 and IFRS 7 would require entities to disclose additional information in the notes about those arrangements.

The Exposure Draft uses ‘supplier finance arrangement’ to refer to a reverse factoring or other similar arrangement.
The proposed amendments would: ● affect an entity that, as a buyer, enters into one or more supplier finance arrangements (as described in the proposals), under which the entity, or its suppliers, can access financing for amounts the entity owes its suppliers.
● enable users of financial statements to obtain from financial statements the information for them to 73 Financial Reporting Foundation 2 0 2 1 Summaries of Draft Technical Pronouncements issued in 2021 assess the effects of supplier finance arrangements on an entity’s liabilities and cash flows, as well as on its liquidity risk and risk management.

Comments were sought from the IC and WG 60.
IFRIC Tentative Agenda Decisions The following are Tentative Agenda Decisions published in 2021 but have not been finalised by IFRIC: (1) Economic Benefits from Use of a Windfarm (IFRS 16 Leases) The IFRIC received a request about whether, applying paragraph B9(a) of IFRS 16, an electricity retailer (customer) has the right to obtain substantially all the economic benefits from use of a windfarm throughout the term of an agreement with a windfarm generator (supplier).
The IFRIC observed that, in the fact pattern described in the request, the economic benefits from use of the windfarm include the electricity it produces (as its primary output) and the renewable energy credits (as a by-product or other economic benefit from use of the windfarm).

The IFRIC therefore concluded that, in the fact pattern described in the request, the customer does not have the right to obtain substantially all the economic benefits from use of the windfarm.
Consequently, the contract does not contain a lease.

The IFRIC concluded that the principles and requirements in IFRS Standards provide an adequate basis for a customer that enters into an agreement as described in the request to determine whether it has the right to obtain substantially all the economic benefits from use of an identified asset.
(2) TLTRO III Transactions (IFRS 9 Financial Instruments and IAS 20 Accounting for Government Grants and Disclosure of Government Assistance) The IFRIC received a request about how to account for the third programme of the targeted longer-term refinancing operations (TLTROs) of the European Central Bank (ECB).
The TLTROs link the amount a participating bank can borrow and the interest rate the bank pays on each tranche of the operation to the volume and amount of loans it makes to non-financial corporations and households.
The request asks: (a) whether the TLTRO III tranches represent loans with a below-market interest rate and, if so, whether the borrowing bank is required to apply IFRS 9 or IAS 20 to account for the benefit of the below-market interest rate; (b) if the bank applies IAS 20 to account for the benefit of the below-market interest rate: (i) how it assesses in which period(s) it recognises that benefit; and (ii) whether, for the purpose of presentation, the bank adds the amount of the benefit to the carrying amount of the TLTRO III liability; (c) how the bank calculates the applicable effective interest rate; (d) whether the bank applies paragraph B5.4.6 of IFRS 9 to account for changes in estimated cash flows resulting from the revised assessment of whether the conditions attached to the liability have been met; and (e) how the bank accounts for changes in cash flows related to the prior period that result from the bank’s lending behaviour or from changes the ECB makes to the TLTRO III conditions.
2 0 2 1 Financial Reporting Foundation 74 Summaries of Draft Technical Pronouncements issued in 2021 The IFRIC concluded that if the bank determines that the TLTRO III tranches contain a government grant in the scope of IAS 20, the requirements in IAS 20 provide an adequate basis for an entity to determine how to account for that government grant.
With respect to the question of whether conditions attached to the interest rate should be reflected in the estimates and revisions of expected future cash flows when determining the effective interest rate, the IFRIC concluded that the matters described in the request are part of a broader matter that, in isolation, are not possible to address in a cost-effective manner and should be reported to the IASB.
The IASB should consider this matter as part of the post-implementation review of the classification and measurement requirements in IFRS 9.

(3) Cash Received via Electronic Transfer as Settlement for a Financial Asset (IFRS 9 Financial Instruments) The IFRIC received a request about the recognition of cash received via an electronic transfer system as settlement for a financial asset.
The request asked whether the entity can derecognise the trade receivable and recognise cash on the date the cash transfer is initiated (its reporting date), rather than on the date the cash transfer is settled (after its reporting date).
The IFRIC observed that, if an entity’s contractual rights to the cash flows from the trade receivable expire before the transfer settlement date, the entity would recognise any financial asset received as settlement for the trade receivable (for example, a right to receive cash from the customer’s bank) on that same date.

An entity would not however recognise cash (or another financial asset) received as settlement for a trade receivable before it derecognises the trade receivable.
The IFRIC concluded that the principles and requirements in IFRS Standards provide an adequate basis for an entity to determine when to derecognise a trade receivable and recognise cash received via an electronic transfer system as settlement for that receivable.
(4) Demand Deposits with Restrictions on Use (IAS 7 Statement of Cash Flows) The IFRIC received a request about whether an entity includes a demand deposit as a component of cash and cash equivalents in its statements of cash flows and financial position when the demand deposit is subject to contractual restrictions on use agreed with a third party.
The IFRIC concluded that the principles and requirements in IFRS Standards provide an adequate basis for an entity to determine whether to include demand deposits subject to contractual restrictions on use agreed with a third party as a component of cash and cash equivalents in its statements of cash flows and financial position.
(5) Principal versus Agent: Software Reseller (IFRS 15 Revenue from Contracts with Customers) The IFRIC received a request asking whether, in applying IFRS 15, a reseller of software licences is a principal or agent.

The IFRIC observed that the conclusion as to whether the reseller is a principal or agent depends on the specific facts and circumstances, including the terms and conditions of the relevant contracts.
The IFRIC concluded that the principles and requirements in IFRS Standards provide an adequate basis for a reseller to determine whether – in the fact pattern described in the request – it is a principal 75 Financial Reporting Foundation 2 0 2 1 Summaries of Draft Technical Pronouncements issued in 2021 or agent for the standard software licences provided to a customer.

The IC was given the responsibility to deliberate the above IFRIC Tentative Agenda Decisions.

Details of the IC have been included above.
MASB Draft Technical Pronouncements MASB Exposure Draft 78 Preparation of consolidated financial statements for a group which had disposed of its only subsidiary during the financial year The objective of the Exposure Draft was to seek feedback on the tentative conclusion by the MAIC in relation to a request received about the requirement of preparing consolidated financial statements for a group which had disposed of its only subsidiary during the financial year.
In the fact pattern described in the request, an investor had a subsidiary for many years and had been preparing consolidated financial statements.

However, during the year ended 31 December 2019, the investor disposed of its only subsidiary on 30 June 2019.

The request asked whether the investor would need to prepare consolidated financial statements for the year ended 31 December 2019.
Based on the fact pattern, consolidated financial statements must be prepared by the investor for the year ended 31 December 2019 because the investor was a parent during the reporting period, even though it is no longer a parent at the end of the reporting period.

The investor will include the income and expenses of the only subsidiary in the consolidated statement of profit or loss and other comprehensive income until the date when the investor ceases to control the subsidiary.
Consolidated financial statements prepared by the investor for the financial year ended 31 December 2019 must comprise a complete set of financial statements, which includes comparative information for the preceding period (financial year ended 31 December 2018).

Refer also to the MFRS Application and Implementation Committee section of this Annual Report.
Draft Issues Bulletin 3 Reporting Qard in the Takaful Fund Column within Takaful Entity Financial Statements Draft Issues Bulletin 3 (Draft IB 3) was issued to seek feedback on the Board’s preliminary views on accounting for qard when MFRS 17 Insurance Contracts is applied on its effective date of 1 January 2023.
The scope of Draft IB 3 was narrow such that it focuses only on accounting for qard in the context of a takaful operator’s obligation to contribute qard to a takaful fund in order to rectify a deficit under section 95 of the Islamic Financial Services Act 2013 (IFSA).
Draft IB 3 sought views of the stakeholders on matters relating to (a) the terms of qard as practiced by takaful in Malaysia, (b) qard as fulfilment cash flows under takaful contracts from the takaful fund perspective, (c) circumstances in which qard might arise for reasons other than to rectify deficit arising from issued takaful contracts, and (d) considerations on the application of MFRS 9 Financial Instruments in the event that a takaful entity chose to present a separate takaful operator column in its financial statements.
Draft IB 3 was finalised and issued by the Board in June 2021 and with no fundamental change in the preliminary views.

It concludes that qard arising as a result of rectifying a deficit under section 95 of IFSA forms part of fulfilment cash flows of takaful contracts under MFRS 17 from the perspective of takaful fund.

2 0 2 1 Financial Reporting Foundation 76 Review of Draft Technical Pronouncements MASB actively participates in the IASB’s standard-setting process.
During the year, the MASB reviewed and provided comment on twenty-one (21) draft technical pronouncements and they comprise one (1) IFRS Foundation Exposure Draft, two (2) IASB Requests for Information, one (1) IASB Discussion Paper, six (6) IASB Exposure Drafts and eleven (11) IFRIC Tentative Agenda Decisions.

No.
Title IFRS Foundation Exposure Draft 1 ED/2021/5 Proposed Targeted Amendments to the IFRS Foundation Constitution to Accommodate an International Sustainability Standards Board to Set IFRS Sustainability Standards IASB Requests for Information 2 Post-implementation Review of IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in Other Entities 3 Third Agenda Consultation IASB Discussion Paper 4 DP/2020/2 Business Combinations under Common Control IASB Exposure Drafts 5 ED/2021/2 Covid-19-Related Rent Concessions beyond 30 June 2021 (Proposed amendment to IFRS 16 Leases) 6 7 8 9 ED/2020/4 Lease Liability in a Sale and Leaseback (Proposed amendment to IFRS 16 Leases) ED/2021/1 Regulatory Assets and Regulatory Liabilities ED/2021/4 Lack of Exchangeability (Proposed amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates) ED/2021/8 Initial Application of IFRS 17 and IFRS 9—Comparative Information (Proposed amendment to IFRS 17 Insurance Contracts) 10 ED/2021/6 Management Commentary IFRIC Tentative Agenda Decisions 11 Classification of Debt with Covenants as Current or Non-current (IAS 1 Presentation of Financial Statements) Attributing Benefit to Periods of Service (IAS 19 Employee Benefits) Configuration or Customisation Costs in a Cloud Computing Arrangement (IAS 38 Intangible Assets) Costs Necessary to Sell Inventories (IAS 2 Inventories) Preparation of Financial Statements when an Entity is No Longer a Going Concern (IAS 10 Events after the Reporting Period) Non-refundable Value Added Tax on Lease Payments (IFRS 16 Leases) Accounting for Warrants that are Classified as Financial Liabilities on Initial Recognition (IAS 32 Financial Instruments: Presentation) Economic Benefits from Use of a Windfarm (IFRS 16 Leases) TLTRO III Transactions (IFRS 9 Financial Instruments and IAS 20 Accounting for Government Grants and Disclosure of Government Assistance) Cash Received via Electronic Transfer as Settlement for a Financial Asset (IFRS 9 Financial Instruments) 21 Demand Deposits with Restrictions on Use (IAS 7 Statement of Cash Flows) 77 Financial Reporting Foundation 2 0 2 1 Islamic Finance Islamic finance forms part of the MASB work plan under standard-setting and implementation activities.
The MASB Standing Committee on Islamic Financial Reporting (SCIFR) has been given the responsibility of advising the MASB as to whether an existing or proposed approved accounting standard can be made applicable to Islamic finance transactions.

In June 2021, MASB has issued Issues Bulletin 3 Reporting Qard in the Takaful Fund Column within Takaful Entity Financial Statements.
Issues Bulletin 3 addresses the accounting for qard in the context of a takaful operator’s obligation to contribute qard to a takaful fund in order to rectify a deficit under section 95 of the Islamic Financial Services Act 2013.

This Issues Bulletin concludes that from the takaful fund perspective, qard forms part of fulfilment cash flows under MFRS 17 Insurance Contracts.
The MASB also considered the accounting implications of qard in the event that a takaful entity chooses to prepare separate takaful operator column in its financial statements.

Discussion and guidance on qard from the perspective of the takaful operator are included in the Annex to the Bulletin.
Chairperson Members : Dato’ Mohammad Faiz Azmi : Dato’ Abdul Rauf Rashid (Ernst & Young PLT) Encik Ahmad Nasri Abdul Wahab (KPMG PLT) Encik Zharif Agil (PricewaterhouseCoopers PLT) Encik Ahmad Shahriman Mohd Shariff (CIMB Islamic Bank Berhad and CIMB Group) Encik Zafri Ab.

Halim (Etiqa Family Takaful Berhad) Dr. Md.
Nurdin Ngadimon (RHB Islamic Bank) Dato' Badlisyah Abdul Ghani Puan Madelena Mohamed (Bank Negara Malaysia) Dr. Marjan Muhammad (International Shariah Research Academy for Islamic Finance) Encik Noraizat Shik Ahmad (Securities Commission Malaysia) Observers : Puan Ratna Shae'rah Kamaludin (Association of Islamic Banking and Financial Institutions Malaysia) Puan Rasmimi Ramli (Malaysian Institute of Accountants) Encik Nor Shahrizan Sulaiman (Malaysian Investment Banking Association) Encik Azli Munani (Malaysian Takaful Association) Agenda for 2022 One of the primary activities of MASB is to provide comments on IASB’s draft technical pronouncements from an Islamic financial reporting perspective.
For this, the work plan would mirror that of the IASB and in 2022, one of the documents which might require separate commentary from the Islamic financial reporting perspective is IASB’s project on Financial Instruments with Characteristics of Equity (FICE).

Other than the above, MASB also sets its own work plan for the Islamic financial reporting.
For 2022 and potentially until 2023, the work plan, themed as knowledge and connection rebuilding, would involve among others reviewing and updating the technical pronouncements issued by the Board in the past.

Specific research topics have also been identified to ensure MASB remains as the thought leader on the application of IFRS Standards to Islamic financial transactions.
On the regional front, MASB continues to lead the AOSSG Islamic Finance Working Group and accordingly the Secretariat will plan its work programme with a view to support the application of IFRS to Islamic financial transactions by member countries.

Internationally, MASB continues to be an active contributor in the IASB Islamic Finance Consultative Group (IFCG) in its discourse about specific Islamic financial reporting issues.
2 0 2 1 Financial Reporting Foundation 78 Local Implementation Projects MFRS 17 Task Force The Implementation Task Force on MFRS 17 (MFRS 17 Task Force) was set up with a view to facilitate implementation and consistent application of MFRS 17 during this transitional period from MFRS 4 Insurance Contracts to MFRS 17.

The MFRS 17 Task Force discusses local implementation issues and provides recommendation to the MASB on the issuance or otherwise, of any forms of technical pronouncement.
The Task Force is expected to be temporary in nature with a lifespan of two years, i.e., from January 2021 up to the end of 2022.

Discussions of the Task Force will be documented via meeting summaries which will be distributed to all members and observers for reference, and will be reported to the MASB.

During the year, the Task Force had five (5) meetings and discussed twenty-three (23) issues, of which nineteen (19) were on insurance and four (4) were specific to takaful.
MFRS 17 Task Force comprised: Chairperson Co-chair Project Manager – Insurance Project Manager – Takaful : Mr. Darrel Scott : : : Encik New Kheng Chee Encik Mok Wan Kong (KPMG PLT) Encik Harun Kannan Rajagopal (Ernst & Young PLT) Members : Deloitte PLT (representatives from) PricewaterhouseCoopers PLT AIA Bhd AIA PUBLIC Takaful Bhd Allianz General Insurance Malaysia Berhad AmGeneral Insurance Bhd Etiqa Family Takaful Berhad Etiqa Life Insurance Berhad Great Eastern Life Assurance (M) Berhad Takaful Ikhlas General Berhad Bank Negara Malaysia Observers : Life Insurance Association of Malaysia (representatives from) Malaysian Takaful Association Persatuan Insurans Am Malaysia MASB’s work and COVID-19 In the year 2020, a specialised task force, named MFRS 9 Task Force on COVID-19 Relief Measures (TFC-19), was established to serve as a platform for stakeholders to discuss the application of MFRS 9 following the relief measures implemented by BNM as a result of the pandemic.
TFC-19 discussed and concluded on issues relating to application and implementation of MFRS 9 affected by the relief measures so as to improve consistency of MFRS 9 application by financial institutions.
Five meetings were held during the year whereby the TFC-19 continued to actively discuss issues relating to the application of MFRS 9 to the various assistance programmes launched by the Government and the financial institutions, for example the impact of customers’ viability and repayments on staging of loans and financing.

Since its formation, the TFC-19 has issued three guidance notes [see Note 1] and it continuously assesses whether any additional guidance or updates to the guidance notes is necessary.
It was concluded that those guidance notes continue to work in the current environment of continuing COVID-19 relief measures.
79 Financial Reporting Foundation 2 0 2 1 Local Implementation Projects Note 1: The Guidance Notes are: ● Post-moratorium Rescheduling and Restructuring (R&R) as at 1 October 2020 for viable customers – Information update, assessment and staging effects – For retail portfolio ● Post-moratorium R&R as at 1 October 2020 for viable customers – Information update, assessment and staging effects – For SME portfolio ● COVID-19 specific disclosures – For annual financial statements ending on or after 31 December 2020 TFC-19 comprised: Chairperson Project Manager Members Observers : Mr. Darrel Scott : : Encik Chan Hooi Lam Puan Siti Hajar Osman (Deloitte PLT) Dato’ Megat Iskandar Shah Mohamad Nor (Ernst & Young PLT) Encik Adrian Lee (KPMG PLT) Encik Ong Ching Chuan (PricewaterhouseCoopers PLT) Encik Mohamad Jamali Haron (Bank Islam Malaysia Berhad) Encik Khairul Rifaie (CIMB Bank Malaysia) Encik Malkit Singh Maan (Hong Leong Bank Berhad) Puan Khalijah Ismail (Malayan Banking Berhad) Puan Yik Sook Ling (Public Bank Berhad) Encik Nik Rizal Kamil Nik Ibrahim Kamil (RHB Bank Berhad) Puan Cindy Siah Hooi Hoon (Bank Negara Malaysia) Encik Daniel Chin Shen Li (Bank Negara Malaysia) : Puan Mazura Mohamed Jamil (Association of Islamic Banking and Financial Institutions Malaysia) Encik Surin Segar A/L Gnanasegaram (The Association of Banks in Malaysia) MFRS Application and Implementation Committee Refer to the MFRS Application and Implementation Committee section of this Annual Report.
2 0 2 1 Financial Reporting Foundation 80 Agenda for Year 2022 Standard Setting and Maintenance – MFRS and MPERS The work plan for 2022 follows closely to that of the IASB’s work plan because MFRS Standards have been converged with IFRS Standards since 1 January 2012.

Similarly, the MPERS is substantively equivalent to the IFRS for SMEs Standard except for the requirements for property development activities plus some terminology changes.
The IASB work plan as at 8 March 2022 is as follows: Final Pronouncements Project Lease Liability in a Sale and Leaseback Primary Financial Statements Rate-regulated Activities Exposure Drafts / Discussion Papers / Request for Information Project Financial Instruments with Characteristics of Equity Second Comprehensive Review of the IFRS for SMEs Standard To Consider Exposure Drafts Feedback Project Disclosure Initiative – Subsidiaries without Public Accountability: Disclosures Disclosure Initiative –Targeted Standards-level Review of Disclosures Expected date H2 2022 - - Expected date - H2 2022 Management Commentary Non-current Liabilities with Covenants Supplier Finance Arrangements To Decide Project Direction Maintenance Project Lack of Exchangeability (Amendments to IAS 21) Provisions – Targeted Improvements Research Project Business Combinations under Common Control Dynamic Risk Management Equity Method Extractive Activities Goodwill and Impairment Note: H2 – Second half year 81 Financial Reporting Foundation 2 0 2 1 MASB Approved Accounting Standards and Interpretations for Entities Other Than Private Entities issued as at 8 March 2022 Malaysian Financial Reporting Standards (MFRS) MFRS 1 First-time Adoption of Malaysian Financial Reporting Standards Annual Improvements to MFRS Standards 2018-2020 MFRS 2 MFRS 3 Share-based Payment Business Combinations Definition of a Business (Amendments to MFRS 3) Effective Date 1 January 2012 1 January 2022 1 January 2012 1 January 2012 1 January 2020 Reference to the Conceptual Framework (Amendments to MFRS 3) 1 January 2022 MFRS 4 Insurance Contracts [will be superseded by MFRS 17] 1 January 2012 MFRS 5 MFRS 6 MFRS 7 MFRS 8 MFRS 9 Extension of the Temporary Exemption from Applying MFRS 9 (Amendments to MFRS 4) Effective immediately Interest Rate Benchmark Reform—Phase 2 (Amendments to MFRS 9, MFRS 139, MFRS 7, MFRS 4 and MFRS 16) 1 January 2021 Non-current Assets Held for Sale and Discontinued Operations Exploration for and Evaluation of Mineral Resources Financial
 Instruments: Disclosures Interest Rate Benchmark Reform (Amendments to MFRS 9, MFRS 139 and MFRS 7) 1 January 2012 1 January 2012 1 January 2012 1 January 2020 Interest Rate Benchmark Reform—Phase 2 (Amendments to MFRS 9, MFRS 139, MFRS 7, MFRS 4 and MFRS 16) 1 January 2021 Operating Segments Financial Instruments (IFRS 9 Financial Instruments as issued by IASB in July 2014) 1 January 2012 1 January 2018 Interest Rate Benchmark Reform (Amendments to MFRS 9, MFRS 139 and MFRS 7) 1 January 2020 Annual Improvements to MFRS Standards 2018-2020 Interest Rate Benchmark Reform—Phase 2 (Amendments to MFRS 9, MFRS 139, MFRS 7, MFRS 4 and MFRS 16) MFRS 10 Consolidated Financial Statements Sale or Contribution of Assets between an Investor and its Associate or Joint Venture (Amendments to MFRS 10 and MFRS 128) MFRS 11 Joint Arrangements MFRS 12 Disclosure of Interests in Other Entities MFRS 13 Fair Value Measurement MFRS 14 Regulatory Deferral Accounts MFRS 15 Revenue from Contracts with Customers MFRS 16 Leases 1 January 2022 1 January 2021 1 January 2013 Deferred 1 January 2013 1 January 2013 1 January 2013 1 January 2016 1 January 2018 1 January 2019 Covid-19-Related Rent Concessions (Amendment to MFRS 16) 1 June 2020 Annual Improvements to MFRS Standards 2018-2020 Interest Rate Benchmark Reform—Phase 2 (Amendments to MFRS 9, MFRS 139, MFRS 7, MFRS 4 and MFRS 16) Covid-19-Related Rent Concessions beyond 30 June 2021 (Amendment to MFRS 16) MFRS 17 Insurance Contracts Amendments to MFRS 17 Initial Application of MFRS 17 and MFRS 9—Comparative Information (Amendment to MFRS 17) - 1 January 2021 1 April 2021 1 January 2023 1 January 2023 1 January 2023 2 0 2 1 Financial Reporting Foundation 82 MASB Approved Accounting Standards and Interpretations for Entities Other Than Private Entities issued as at 8 March 2022 Malaysian Financial Reporting Standards (MFRS) Presentation of Financial Statements MFRS 101 Definition of Material (Amendments to MFRS 101) Classification of
 Liabilities as Current or Non-current (Amendments to MFRS 101) Classification of Liabilities as Current or Non-current—Deferral of Effective Date (Amendment to MFRS 101) Disclosure of Accounting Policies (Amendments to MFRS 101) MFRS 102 Inventories MFRS 107 Statement of Cash Flows Effective Date 1 January 2012 1 January 2020 1 January 2023 Effective immediately 1 January 2023 1 January 2012 1 January 2012 MFRS 108 Accounting Policies, Changes in Accounting Estimates and Errors 1 January 2012 Definition of Material (Amendments to MFRS 108) Definition of Accounting Estimates (Amendments to MFRS 108) MFRS 110 Events after the Reporting Period MFRS 112 Income Taxes Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments to MFRS 112) MFRS 116 Property, Plant and Equipment Property, Plant and Equipment—Proceeds before Intended Use (Amendments to MFRS 116) MFRS 119 Employee Benefits MFRS 120 Accounting for Government Grants and Disclosure of Government Assistance MFRS 121 The Effects of Changes in Foreign Exchange Rates MFRS 123 Borrowing Costs MFRS 124 Related Party Disclosures MFRS 126 Accounting and Reporting by Retirement Benefit Plans MFRS 127 Separate Financial Statements MFRS 128 Investments in Associates and Joint Ventures Sale or Contribution of Assets between an Investor and its Associate or Joint Venture (Amendments to MFRS 10 and MFRS 128) MFRS 129 Financial Reporting in Hyperinflationary Economies MFRS 132 Financial Instruments: Presentation MFRS 133 Earnings per Share MFRS 134 Interim Financial Reporting MFRS 136 Impairment of Assets MFRS 137 Provisions, Contingent Liabilities and Contingent Assets Onerous Contracts—Cost of Fulfilling a Contract (Amendments to MFRS 137) MFRS 138 Intangible Assets MFRS 139 Financial Instruments: Recognition and Measurement Interest Rate Benchmark Reform (Amendments to MFRS 9, MFRS 139 and MFRS 7) 1 January 2020 1 January 2023 1 January 2012 1 January 2012 1 January 2023 1 January 2012 1
 January 2022 1 January 2013 1 January 2012 1 January 2012 1 January 2012 1 January 2012 1 January 2012 1 January 2013 1 January 2013 Deferred 1 January 2012 1 January 2012 1 January 2012 1 January 2012 1 January 2012 1 January 2012 1 January 2022 1 January 2012 1 January 2012 1 January 2020 Interest Rate Benchmark Reform—Phase 2 (Amendments to MFRS 9, MFRS 139, MFRS 7, MFRS 4 and MFRS 16) 1 January 2021 83 Financial Reporting Foundation 2 0 2 1 MASB Approved Accounting Standards and Interpretations for Entities Other Than Private Entities issued as at 8 March 2022 Malaysian Financial Reporting Standards (MFRS) Investment Property MFRS 140 MFRS 141 Agriculture Annual Improvements to MFRS Standards 2018-2020 Effective Date 1 January 2012 1 January 2012 1 January 2022 Note: The numbering of the MFRS corresponds with the equivalent IFRS.
MFRS prefix with ‘1xx’ corresponds with the equivalent IAS.
IC Interpretations IC Interpretation 1 Changes in Existing Decommissioning, Restoration and Similar Liabilities IC Interpretation 2 Members’ Shares in Co-operative Entities and Similar Instruments Effective Date 1 January 2012 1 January 2012 IC Interpretation 5 Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds 1 January 2012 IC Interpretation 6 Liabilities arising from Participating in a Specific Market—Waste Electrical and Electronic Equipment 1 January 2012 IC Interpretation 7 Applying the Restatement Approach under MFRS 129 Financial Reporting in Hyperinflationary Economies 1 January 2012 IC Interpretation 10 Interim Financial Reporting and Impairment IC Interpretation 12 Service Concession Arrangements 1 January 2012 1 January 2012 IC Interpretation 14 MFRS 119—The Limit on a Defined Benefit Asset, Minimum 1 January 2012 Funding Requirements and their Interaction IC Interpretation 16 Hedges of a Net Investment in a Foreign Operation IC Interpretation 17 Distributions of Non-cash Assets to Owners IC Interpretation 19 Extinguishing Financial Liabilities with Equity Instruments 1 January 2012 1 January 2012 1 January 2012 IC Interpretation 20 Stripping Costs in the Production Phase of a Surface Mine 1 January 2013 IC Interpretation 21 Levies 1 January 2014 IC Interpretation 22 Foreign Currency Transactions and Advance Consideration 1 January 2018 IC Interpretation 23 Uncertainty over Income Tax Treatments IC Interpretation 107 Introduction of the Euro 1 January 2019 1 January 2012 IC Interpretation 110 Government Assistance—No Specific Relation to Operating 1 January 2012 Activities IC Interpretation 125 Income Taxes—Changes in the Tax Status of an Entity or its 1 January 2012 Shareholders IC Interpretation 129 Service Concession Arrangements: Disclosures IC Interpretation 132 Intangible Assets—Web Site Costs 1 January 2012 1 January 2012 Note: The numbering of the IC Interpretation corresponds with the equivalent interpretation issued by the IFRS Interpretations Committee.
IC Interpretation prefix with ‘1xx’ corresponds with the equivalent interpretation issued by the Standing Interpretations Committee (SIC).

2 0 2 1 Financial Reporting Foundation 84 MASB Approved Accounting Standards for Private Entities issued as at 8 March 2022 Private entities shall comply with either: ● ● Malaysian Private Entities Reporting Standard (MPERS) in their entirety; or Malaysian Financial Reporting Standards (MFRS) in their entirety.
A private entity is a private company as defined in section 2 of the Companies Act 2016 that: ● ● is not itself required to prepare or lodge any financial statements under any law administered by the Securities Commission Malaysia or Bank Negara Malaysia; and is not a subsidiary or associate of, or jointly controlled by, an entity which is required to prepare or lodge any financial statements under any law administered by the Securities Commission Malaysia or Bank Negara Malaysia.
Notwithstanding the above, a private company that is itself, or is a subsidiary or associate of, or jointly controlled by, an entity that is a management company as defined in section 2 of the Interest Schemes Act 2016 is not a private entity.

The terms of ‘subsidiary’, ‘associate’ and ‘jointly controlled’ are as respectively defined and explained in MFRS 10 Consolidated Financial Statements, MFRS 128 Investments in Associates and Joint Ventures and MFRS 11 Joint Arrangements.
An entity may only be treated as a private entity in relation to such annual periods or interim periods throughout which it is a private entity.
85 Financial Reporting Foundation 2 0 2 1 Other Technical Pronouncements Other Technical Pronouncements issued to date are: ● Preface to MASB Approved Accounting Standards ● Preface to Technical Pronouncements and Guidance ● Conceptual Framework for Financial Reporting (2011) ● Conceptual Framework for Financial Reporting (2018) ● MFRS Practice Statement 1 Management Commentary ● MFRS Practice Statement 2 Making Materiality Judgements ● MFRS Application and Implementation Committee (MAIC) Education Materials - MFRS Application and Implementation Guide (MAIG) 1 Accounting treatment for cancellation of treasury shares under the Companies Act 2016 - MAIG 2 Classification by the borrower of a term loan that contains a repayment on demand clause - MAIG 3 Preparation of consolidated financial statements for a group which had disposed of its only subsidiary during the financial year - MAIC Questions & Answers (Q&A) on Accounting for public infrastructure costs and affordable housing losses associated with property development ● Other supplementary material - Costing Property Development Inventories ● COVID-19-Related Guidance - COVID-19: MFRS 9 Financial Instruments—Expected Credit Loss Considerations - Q&A on requirements in MFRS that Malaysian reporting entities may need to consider in respect of the impacts of COVID-19 - Recognition of Revenue Progressively from Sale of Residential Property in accordance with MFRS 15 Revenue from Contracts with Customers upon enactment of COVID-19 Bill 2020 Islamic Finance Islamic Technical Pronouncements ● Statement of Principles i-1 Financial Reporting from an Islamic Perspective ● ● ● ● Technical Release i-1 Accounting for Zakat on Business Issues Bulletin 1 MFRS 17 Insurance Contracts: Definition and Scope for Takaful Issues Bulletin 2 Columnar Presentation of Takaful Funds in Takaful Entity Financial Statements Issues Bulletin 3 Reporting Qard in the Takaful Fund Column within Takaful Entity Financial Statements 2 0 2 1 Financial Reporting Foundation 86 Other Materials ● Feedback Statement: MASB Discussion Papers on Takaful, Sukuk and Shariah Compliant Profit-Sharing Contracts ● Research Paper: Waqf ● Report on the Review of Shariah Policy Documents ● A Word about Islamic Finance – Parts I and I 87 Financial Reporting Foundation 2 0 2 1 MFRS APPLICATION AND IMPLEMENTATION COMMITTEE (MAIC) 2 0 2 1 Financial Reporting Foundation 88 MFRS Application and Implementation Committee (MAIC) 2021 has been another challenging year for companies around the world due to the heightening COVID-19 cases and prolonged pandemic-related regulations.
Despite this challenging year, the companies have been faithfully applying and implementing the respective the existing, new or amended requirements of Malaysian Financial Reporting Standards (MFRS Standards).

Learning and growing from this challenging year will better position the companies for what they will certainly encounter in 2022 and beyond.
In 2021, the MFRS Application and Implementation Committee (MAIC) continued to carry out its task with the responsibilities of considering application and implementation issues raised by users of the MFRS Standards by developing MFRS Application and Implementation Guide (MAIG), Questions & Answers (Q&As) or any other form of educational materials appropriate for its intended use.
MAIC will recommend to the Board on the need to bring any issue identified to the International Accounting Standards Board (IASB) or IFRS Interpretations Committee for implementation issues of existing MFRS Standards that cannot be addressed by MAIC such as ambiguity of wordings or divergent views.

MAIC also focuses on a limited number of local pervasive from other legal differences ‘IFRS-adopter’ rule-oriented environment, which will be inconsistent with the spirit of principle-based MFRS Standards.
for example, jurisdictions, and not to create an extensive from contractual and that resulted issues, those 89 Financial Reporting Foundation 2 0 2 1 MFRS Application and Implementation Committee (MAIC) MAIC has considered a total of five (5) issues of which three (3) new issues were received and two (2) issues were brought forward from 2020 for the current financial reporting.
As at the date of this report, three (3) out of the five (5) issues considered were completed, one issue where guidance was published, and two (2) issues were closed without any guidance being issued.

The remaining two (2) issues were still under consideration by MAIC.
A summary of the issues considered is listed below: Description of Issue Status Accounting treatment for monies received from investors and paid to trustee for purchase of units or received from trustee and paid to investors for redemption of units of unit trust fund ("collection account") Preparation of consolidated financial statements for a group which had disposed of its only subsidiary during the financial year Issue considered and closed (Refer to Note 1) MASB ED 78 Preparation of consolidated financial statements for a group which had disposed of its only subsidiary during the financial year was exposed for public comment in February 2021.
Issue completed with publication of MAIG 3 Preparation of consolidated financial statements for a group which had disposed of its only subsidiary during the financial year in May 2021.
Classification of consumers’ security deposits as current liability or non-current liability Issue considered and closed (Refer to Note 2) Appropriate exchange rate used for the computation of dividends declared during the year where the company’s presentation currency is Ringgit Malaysia, but its functional currency is other than Ringgit Malaysia Still under consideration Computation of percentage of completion using input method at holding company level and group level Still under consideration 1.

2.

3.
2.

3.

4.

5.

Note: 1.

2.

Issue was considered and deliberated.

The Board agreed not to proceed with the issuance of a guidance, considering the case is not widespread and more importantly, the accounting treatment will be determined by the fact patterns in question.

Issue was considered and deliberated.


The Board decided to close the issue with no further guidance required because the principles and requirements in the respective MFRS Standards provide an adequate basis for determination of the appropriate accounting treatment.
2 0 2 1 Financial Reporting Foundation 90 MFRS Application and Implementation Committee (MAIC) As reported in the 2020 Annual Report, MASB will raise the issue in relation to acquisition of additional stake in a joint venture without change in control with the IASB during its post-implementation review of IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in Other Entities instead of issuing a guidance.
The issue will be taken up by the IASB under its Equity Method research project.

Engaging with various stakeholders of financial reporting is also an important task of MAIC.
During the year, MASB reached out to various stakeholders in three engagement sessions which are summarised as follows: ● Two (2) virtual sessions were held on 17 and 18 March 2021, attended by 14 senior personnel from eight corporates, to identify implementation issues on MFRS 10 Consolidated Financial Statements, MFRS 11 Joint Arrangements and MFRS 12 Disclosures of Interest in Other Entities.
● A (1) dialogue session was held on 20 April 2021, attended by 170 directors namely from financial institutions and Bank Negara Malaysia (BNM), on MFRS 17 Insurance Contracts, as a refresher session and to discuss issues, if any, on the preparation for implementation of MFRS 17.

Engaging academicians will assist in spearheading the development of a continuous pool of professional accountants who will be conversant in IFRS Standards and MFRS Standards.
In 2021, MASB has reached out to lecturers and students from various public educational institutions in Malaysia in two online outreach sessions.

The objective of the session is to share the various initiatives undertaken by MASB in supporting financial reporting in Malaysia, in particular the responsibilities of MAIC in ensuring consistent application and implementation of MFRS as well as updating on the new standards being considered by the IASB.
A total of 305 participants from various public educational institutions in Malaysia participated in the outreach sessions and the response received was encouraging.

As reported in the previous year, the MASB issued two Issues Bulletin, namely Issues Bulletin 1 MFRS 17 Insurance Contracts: Definition and Scope for Takaful and Issues Bulletin 2 Columnar Presentation of Takaful Funds in Takaful Entity Financial Statements.
In June 2021, Issues Bulletin 3 Reporting Qard in the Takaful Fund Column within Takaful Entity Financial Statements was issued and it complements the previous Issues Bulletins issued by the Board on the application of MFRS 17 to takaful.

The MASB had various engagements with the stakeholders of the takaful industry, including working together with BNM in developing this Issues Bulletin.
These Issues Bulletins were presented at the 13th Annual Meeting of Asian-Oceanian Standard-Setters Group (AOSSG) held on 24 November 2021 as a way of promoting thought leadership in applying IFRS Standards to Islamic financial transactions, in particular, IFRS 17 Insurance Contracts, which aligns to the Government’s initiative of making Malaysia the global hub for Islamic finance.
A specialised task force, MFRS 9 Task Force on COVID-19 Relief Measures (TFC-19), comprising MASB, BNM, auditors and preparers of financial statements of financial institutions, was formed in July 2020 to discuss the application of MFRS 9 Financial Instruments following the relief measures implemented by BNM as a result of the pandemic.
In 2021, the TFC-19 held five meetings and issued Guidance Note, COVID-19 specific disclosures – for annual financial statements ending on or after 31 December 2020, to improve consistency of disclosures by financial institutions on three key areas, namely, exposures to COVID-19 impacted sectors; customers relief and support measures; and overlay and adjustments for expected credit losses amid COVID-19 environment.
For the year 2021, preparation work for the implementation of MFRS 17 was crucial and consequently, the MFRS 17 Implementation Task Force (MFRS 17 Task Force) was set up with a view to facilitate implementation and consistent application of MFRS 17 during this transitional period from MFRS 4 Insurance Contracts to MFRS 17.

The MFRS 17 Task Force discusses local implementation issues and provides recommendation to the Board on the issuance or otherwise, of any forms of technical pronouncement.
The Task Force is expected to be temporary in nature with a lifespan of two years, i.e., from January 2021 up to the end of 2022.

During the year, the MFRS 17 Task Force held five (5) meetings and discussed 23 issues, of which 19 were on insurance and four (4) were specific to takaful.
Discussions of the MFRS 17 Task Force will be documented via meeting summaries which will be distributed to all members and observers for useful reference to improve consistency of application by the insurance (and takaful) industry.

91 Financial Reporting Foundation 2 0 2 1 MFRS Application and Implementation Committee (MAIC) MAIC comprises a maximum of thirteen (13) voting members appointed by the Board who were drawn from industry/topic specific specialists.
The composition of the thirteen (13) voting members consists of six (6) public practitioners, five (5) preparers of financial statements, a (1) user, and a (1) representative from the Malaysian Institute of Accountants.

Six (6) non-voting official observers are representatives from the Securities Commission Malaysia, Audit Oversight Board, and the professional bodies.
Chairperson Project Manager Members : : : Encik Ken Pushpanathan Encik Foo Yoke Pin Encik Lee Kong Weng (Baker Tilly Malaysia) Encik James Chan Kuan Chee (Crowe Malaysia PLT) (appointed on 1 March 2022) Encik Tan Khoon Yeow (BDO PLT) (retired on 28 February 2022) Encik Edwin Tan Aik Win (Deloitte PLT) Encik Ong Chee Wai (Ernst & Young PLT) Encik Foong Mun Kong (KPMG PLT) Cik Siew Kar Wai (PricewaterhouseCoopers PLT) Dato' Soo Chan Fai (Eco World Development Group Berhad) Cik Wong Yee Fun (Genting Berhad) Puan Izura Nor Azhar (PETRONAS) Encik Purushothaman A/L Kumaran Cik Sarah Lim Fern Chieh (Kenanga Investment Bank Berhad) Puan Rasmimi Ramli (Malaysian Institute of Accountants) Observers : Audit Oversight Board (representatives from) Securities Commission Malaysia Association of Chartered Certified Accountants CPA Australia Institute of Chartered Accountants in England and Wales The Malaysian Institute of Certified Public Accountants 2 0 2 1 Financial Reporting Foundation 92 This page is intentionally left blank EVENTS IN 2021 Engaging the Stakeholders 2 0 2 1 Financial Reporting Foundation 94 To collaborate with other national standard-setters for the development of globally accepted financial reporting standards for international use.
To promote the use and seek views on the application of accounting and financial reporting standards by way of engagement and dissemination of information to users, preparers, auditors and the public.
Events in 2021 Events Description International Meetings IASB SME Implementation Group (SMEIG) Meeting SMEIG is a group established by the International Accounting Standards Board (IASB) and has two main responsibilities, namely to consider implementation and application questions of the IFRS for SMEs Standard, and to make recommendations to the IASB on the need to amend the IFRS for SMEs Standard.
MASB was represented by its Executive Director, Puan Tan Bee Leng who was reappointed as a member of the SMEIG, effective 1 July 2019 for a second consecutive term of three years.

IASB SMEIG meetings were held on these dates and discussed the following topics: 4-5 February 2021 – via Video Conference ● Part A—Strategic and general questions: - Alignment approach and principles; and - When to consider alignment.
9 September 2021 – via Video Conference ● Update on work completed: - Outreach with preparers ● Update on topics: - - Conceptual Framework; and Financial Instruments.
● Alignment with IFRS 16 Leases; ● Alignment with IAS 19 Employee Benefits; ● Simplifications to measurement of defined benefit obligation; ● Update to multiple sections of the IFRS for SMEs Standard for amendments to IFRS Standards and IFRIC Interpretations; ● Alignment with IFRS 14 Regulatory Deferral Accounts; and ● Subsidiaries without Public Accountability.
In these meetings, Puan Tan took the opportunity to voice out the MASB's views on several issues relating to accounting for SMEs, including Conceptual Framework, Leases and Bearer Plants.

97 Financial Reporting Foundation 2 0 2 1 Events in 2021 Events Description International Meetings IFRS Advisory Council Meeting The Advisory Council is the formal strategic advisory body to the Trustees of the IFRS Foundation (IFRSF), the IASB and the International Sustainability Standards Board (ISSB).
Its focus is to provide strategic support and advice to the IFRSF.

A total of 51 organisations from across the world are represented on the Advisory Council, with 50 individual members.

Members of the Advisory Council are appointed by the Trustees.

Members include investors, financial analysts and other users of financial statements, as well as preparers, academics, auditors, regulators, professional accounting bodies, and standard-setters.
represented by Puan Tan Bee Leng who was MASB was appointed as MASB IFRS Advisory Council, effective 1 January 2020 for a three-year period.

representative individual the to Throughout the year, the meetings discussed updates on the Trustees' and IASB’s activities.

Topics discussed included post COVID-19 IASB’s Third Agenda planning, sustainability-related Consultation, and feedback from previous meetings.
reporting, Puan Tan Bee Leng participated in all five meetings held virtually on the following dates: ● 23 February 2021 ● 13 April 2021 ● 11 May 2021 ● 13 September 2021 ● 10 November 2021 The Chartered Institute of Public Finance & Accountancy (CIPFA) – International Financial Reporting for Non- Profit Organisations (IFR4NPO) Technical Advisory Group (TAG) Meeting The IFR4NPO TAG chaired by CIPFA consists of members nominated by national standard-setters (NSS) and these members serve as volunteers in an individual capacity.
Current members of the IFR4NPO TAG are from Africa (The Pan African Federation of Accountants, PAFA), Australia, Austria, Canada, Colombia, Malaysia, New Zealand, Rwanda, Sierra Leone, the United Kingdom, and the United States.
The role of the IFR4NPO TAG in the development of non-mandatory internationally-applicable financial reporting guidance for Non-Profit Organisations (NPOs) will be to provide a forum where the IFR4NPO TAG Secretariat can consult experienced individuals from NSS, on the overall approach, and the key technical issues that it covers in the development of high quality international financial reporting guidance for the NPOs.
In developing the financial reporting guidance for NPOs, the IFR4NPO TAG held four meetings to discuss the development of the draft Consultation Paper.

2 0 2 1 Financial Reporting Foundation 98 Events in 2021 Events Description International Meetings These meetings were held virtually on: ● 3 March 2021 ● 8 September 2021 ● 5 October 2021 ● 1 December 2021 Puan Tan Bee Leng serves as a member of IFR4NPO TAG in her individual capacity and attended all the above meetings.
International Forum of Accounting Standard Setters (IFASS) Meeting The IFASS is an informal network of NSS from around the world and other organisations that have close involvement in financial reporting issues.

IFASS is currently chaired by Mr. Yasunobu Kawanishi, Board Member of the Accounting Standards Board of Japan (ASBJ).

8-9 March 2021 – via Virtual Meeting IFASS is a platform for NSS and interested stakeholders to discuss matters of common interest, including developments in IFRS Standards.
The virtual meeting was participated by NSS from 33 countries as well as representatives from the European Financial Reporting Advisory Group (EFRAG), the IASB and its staff, the International Public Sector Accounting Standards Board (IPSASB), and PAFA.
The following topics were discussed during the two-day virtual meeting: ● EFRAG Initiative on Non-Financial Reporting; ● Disclosure Initiative – Subsidiaries that are SMEs; ● Going Concern; ● Separate Financial Statements; ● Future of Corporate Reporting; ● Post-implementation Review of IFRS 10, IFRS 11 and IFRS 12; ● IFR4NPO Project Update; ● Agenda Consultation; and ● Business Combinations under Common Control.
99 Financial Reporting Foundation 2 0 2 1 Events in 2021 Events Description International Meetings MASB was represented by the then Chairman, Encik Mohamed Raslan Abdul Rahman; Puan Tan Bee Leng; Assistant Associate Director, Puan Nadiah Ismail; and Technical Managers, Puan Cathrine Su and Encik Mohd Nazi Mat Yusoff.
29-30 September 2021 – via Virtual Meeting The following were the agenda for the two-day meeting: ● Message from IASB Chair and responses to questions from IFASS members; ● Climate-related disclosure; ● Regulatory assets and regulatory liabilities – Thoughts on the IASB 21st IASB Emerging Economies Group (EEG) Meeting 17-18 May 2021 – via Virtual Meeting exposure draft; ● IPSASB Update; ● IFR4NPO Project Update; ● Equity method of accounting; ● Accounting estimation and estimates; ● Issues surrounding separate financial statements; and ● Intangible Assets.
MASB was represented by Puan Tan Bee Leng, Puan Nadiah Ismail and Puan Cathrine Su.

In this meeting, Puan Tan led the sub-group discussion on Intangible Assets.

The IASB EEG was set up at the direction of the IFRSF Trustees, with the aim of enhancing participation of emerging economies in the development of IFRS Standards.

The current membership of EEG comprises the emerging economies member countries of the G20 and Malaysia.
EEG focuses on issues around the application and implementation of IFRS Standards in emerging economies.

In addition, EEG may also consider if, and how, IASB could provide educational guidance at the right level for interested parties in emerging economies and what the best delivery system for this would be.

EEG held its 21st bi-annual meeting on 17-18 May 2021.
Attendees included IASB Board Members, Mr. Tadeu Cendon (Chair of EEG), Dr. Jianqiao Lu and Mr. Bruce Mackenzie; IASB Technical Staff, Mr. Fred Nieto and Ms. Roberta Ravelli; as well as delegates from Argentina, Brazil, China, India, Indonesia, Malaysia, Mexico, Russia, Saudi Arabia, South Africa, South Korea and Turkey.
2 0 2 1 Financial Reporting Foundation 100 Events in 2021 Events Description International Meetings The meeting discussed the following topics: ● Rate-regulated Activities; ● Strategy and Governance projects: update on sustainability reporting; ● Strategy and Governance projects: Third Agenda Consultation; ● Business Combinations Under Common Control; ● Agenda decisions: IFRS Interpretations Committee; ● IFRS for SMEs Standard review; ● Applying IAS 12 Income Taxes; and ● Update on IASB Activities.
MASB was represented by Puan Tan Bee Leng and its Project Director, Ms. Patricia McBride.

In this meeting, Puan Tan voiced the need to increase the level of focus on maintenance and consistent application, and correspondingly reduce the level of focus on new IFRS Standards and major amendments to IFRS Standards because stakeholders need a period of relative calm.

She also shared the MASB’s priority of financial reporting issues that the IASB could add to its 2022-2026 work plan.
Ms. McBride presented MASB’s view on the rate regulated activities project.

The 22nd IASB EEG Meeting was held virtually on 2-3 December 2021.

Attendees included IASB Board Members, Mr. Tadeu Cendon (Chair of EEG), Dr. Jianqiao Lu and Mr. Bruce Mackenzie; IASB Technical Staff, Ms. Roberta Ravelli; as well as delegates from Indonesia, Malaysia, Mexico, Argentina, Brazil, China, Russia, Saudi Arabia, South Africa, South Korea and Turkey.
India, The following topics were discussed during the meeting: ● Disclosure Initiative—Subsidiaries without Public Accountability: Disclosures; ● Equity Method; ● Sustainability-related Reporting; ● Post-implementation Review of IFRS 9—Classification and Measurement (PIR); and 22nd IASB EEG Meeting 2-3 December 2021 – via Virtual Meeting 101 Financial Reporting Foundation 2 0 2 1 Events in 2021 Events Description International Meetings ● Update on IASB activities.

MASB was represented by Puan Tan Bee Leng.


In this meeting, Puan Tan presented the MASB's comments on the Disclosure Initiative and PIR projects as well as raised several application issues on equity method of accounting that were encountered by Malaysian stakeholders.

IASB EEG – Special Meeting The meeting discussed the following topics: 12 July 2021 – via Virtual Meeting Disclosures; and ● Management Commentary.
● Disclosure Initiative—Targeted Standards-level Review of MASB was represented by Board Member, Encik Lee Kong Weng and Puan Tan Bee Leng.

World Standard-Setters (WSS) Meeting The IASB has been hosting the WSS Meeting annually for the world’s financial reporting standard-setters.

27-28 September 2021 – via Virtual Platform The meeting provided an opportunity for NSS to get an update on and discuss the IFRSF's activities.
The following subject matters were discussed during the two-day meeting: ● Q&A on sustainability reporting; ● How has the pandemic changed stakeholder engagement?

; ● Agenda Consultation: what’s next?

; ● Subsidiaries without Public Accountability: Disclosures; ● Disclosure Requirements in IFRS Standards—A Pilot Approach; ● Post-implementation Review of IFRS 9—Classification and Measurement; ● Q&A on IASB Update and IFRIC Update; and ● Towards a revised Management Commentary Practice Statement.
MASB was represented by its Chairman, Datuk Mohd Nasir Ahmad and Puan Tan Bee Leng.

2 0 2 1 Financial Reporting Foundation 102 Events in 2021 Events Description International Meetings IASB Research Forum 2021 3-4 November 2021 – via Virtual Meeting The IASB together with the academic journal, Accounting and Finance, hosted the IASB Research Forum 2021.
The Forum was held to encourage discussion between academics and non-academics, including standard-setters, investors, regulators, auditors and preparers of financial statements.

The following were the agenda for the two-day Forum: ● Implementation Costs of IFRS 9 in China; ● Managing transparency: Does IFRS and Global Reporting Initiative (GRI) adoption impact the understandability of corporate reports by Chinese listed companies?
; ● Is Australian Accounting Standard AASB 6 Exploration for and Evaluation of Mineral Resources still fit for purpose?

; ● Do acquiring firms achieve their mergers and acquisitions’ objectives: Evidence from Japan?

; ● The impact of IFRS adoption on value relevance of accounting information in Saudi Arabia; ● Decision usefulness of the accounting standard IFRS for SMEs: Qualitative evidence from Sri Lanka; ● Is IFRS a 'trusted' language for private firm credit decisions?
An analysis of country differences in users’ perspective; ● What influences the implementation of IFRS for SMEs?

The Brazilian Case; and ● Fixing diluted earnings per share: recognising the dilutive effects of employee stock options.

MASB was represented by Puan Tan Bee Leng.


103 Financial Reporting Foundation 2 0 2 1 Events in 2021 Events Description International Meetings Islamic Finance Consultative Group (IFCG) Meeting 30 November 2021 - via Virtual Meeting IFCG, formerly known as the Shariah-Compliant Instruments and Transactions Consultative Group, was established in 2013 by the IASB following its 2011 Agenda Consultation.
IFCG is currently chaired by Dato’ Mohammad Faiz Azmi and co-chaired by Mr. Bruce Mackenzie, IASB Board Member.

IFCG’s objective is to assist the IASB with matters relating to Islamic finance, focusing on challenges that might arise in the application of IFRS Standards to Islamic finance transactions.
The IFCG meeting was attended by delegates from Bahrain, Indonesia, Malaysia, Pakistan, Saudi Arabia, Turkey, United Arab Emirates as well as representatives from the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).

The following subject matters were discussed: ● Post-implementation Review of IFRS 9—Classification and Measurement; ● IFRS 17 Insurance Contracts and Takaful; and ● IASB technical update.

MASB was represented by Datuk Mohd Nasir Ahmad.


Also in attendance as observers were Board Member, Encik Chan Hooi Lam, and Technical Advisor, Mr. Angus Thomson.

IASB Accounting Standards Advisory Forum (ASAF) 10 December 2021 - via Video Conference The objective of ASAF is to provide an advisory forum in which members can constructively contribute towards the achievement of the IASB’s goal of developing globally accepted high-quality accounting standards.
The ASAF comprises 12 non-voting members, represented by 12 individuals, plus the Chair.

The IASB Chair or the Vice-Chair acts as the Chair of ASAF.

Puan Tan Bee Leng represented the Asian-Oceanian Standard- Setters Group (AOSSG) at ASAF on 10 December 2021 and presented preliminary feedback of AOSSG members on IASB Exposure Draft ED/2021/7 Subsidiaries without Public Accountability: Disclosures.
2 0 2 1 Financial Reporting Foundation 104 Events in 2021 Events Description Asian-Oceanian Standard-Setters Group (AOSSG) AOSSG Chair’s Advisory Committee (CAC) Meetings AOSSG is a grouping of the accounting standard-setters in the Asian-Oceanian region.

The Group has been formed to discuss issues and share experiences on the adoption of IFRS Standards and to contribute to the development of a high-quality set of global accounting standards.
MASB participated in AOSSG CAC Meetings which were held periodically to provide assistance to the AOSSG Chair and Vice-Chair in performing their functions, which included: ● planning and coordinating the activities of the AOSSG so as to maintain operational continuity of AOSSG activities, including meetings; ● exchanging information about the activities of AOSSG Working Groups, including providing input and direction at an early stage of the Working Group deliberations; ● consolidating views among the AOSSG on particular topics, and communicating with the IASB and the IFRSF Trustees on areas that are not covered by Working Groups; and ● exchanging views about AOSSG’s communication strategy.
Membership of the AOSSG CAC comprises Sri Lanka (Chair), Pakistan (Vice-Chair), Australia, China, Hong Kong, India, Japan, Malaysia, Singapore and South Korea.
During the year, the MASB technical team, led by Puan Tan Bee Leng, participated in five AOSSG CAC meetings held virtually on the following dates: ● 19 January 2021 ● 16 March 2021 ● 20 May 2021 ● 29 July 2021 ● 22 November 2021 105 Financial Reporting Foundation 2 0 2 1 Events in 2021 Events Description Asian-Oceanian Standard-Setters Group (AOSSG) AOSSG Interim Meeting AOSSG held an interim meeting prior to the AOSSG annual meeting.
17 September 2021 – via Virtual Meeting The meeting discussed the following: ● Classification of Debt with Covenants as Current or Non-current; ● Supplier Finance Arrangements; ● Going Concern; ● Challenges in implementation of IFRS 17 in Sri Lanka; ● Implementation of IFRS 17 Insurance Contracts – Process adopted by MASB; ● Preparation of 2021 Annual AOSSG Meeting; and ● Update from AOSSG jurisdictions.
MASB was represented by Puan Tan Bee Leng, who presented ‘Implementation of IFRS 17 Insurance Contracts – Process adopted by MASB'.

Also in attendance were Puan Nadiah Ismail; Senior Technical Manager, Cik Chow Hsiao Mei; and Technical Managers, Puan Idawaty Mohd Hasan and Puan Cathrine Su.
AOSSG Working Group on IFRS for SMEs Meeting AOSSG Working Group on IFRS for SMEs meeting was held to deliberate and consolidate views on IASB Exposure Draft ED/2021/7 Subsidiaries without Public Accountability: Disclosures.

15 October 2021 – via Virtual Meeting Membership of the AOSSG Working Group on IFRS for SMEs comprises Malaysia (Lead), Bangladesh, Cambodia, Indonesia, Nepal, Pakistan, Sri Lanka and Syria.
AOSSG Working Group Meeting AOSSG held its Working Group meeting prior to the AOSSG annual meeting.

22 November 2021 – via Virtual Meeting The following topics were discussed: ● IASB ED – Disclosure Requirements in IFRS Standards (A Pilot Approach); ● Request for Information – Third Agenda Consultation; and ● IASB ED – Subsidiaries without Public Accountability: Disclosures.

MASB was represented by Puan Tan Bee Leng, who presented the topic, ‘Subsidiaries without Public Accountability: Disclosures’.
Also in attendance were Puan Nadiah Ismail, Puan Idawaty Mohd Hasan and Puan Cathrine Su.

2 0 2 1 Financial Reporting Foundation 106 Events in 2021 Events Description Asian-Oceanian Standard-Setters Group (AOSSG) 13th Annual AOSSG Meeting 23-24 November 2021 – via Virtual Meeting The 13th Annual Meeting of AOSSG was hosted by The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka).

Due to the COVID-19 pandemic, the annual meeting was held virtually.
The meeting was attended by 21 AOSSG member jurisdictions as well as representatives of the IASB.

MASB was represented by Datuk Mohd Nasir Ahmad, Puan Tan Bee Leng, Mr. Angus Thomson, Puan Nadiah Ismail, Puan Idawaty Mohd Hasan and Puan Cathrine Su.
The following technical topics were presented during the meeting: ● IASB and IFRIC Technical Update; ● Lessons from IFRS 16 Leases transition relief and practical expedients; ● Findings from the Research on Intangible Assets; ● ASBJ’s Preliminary view on the ED – Disclosure requirements in IFRS Standards (A Pilot Approach); ● Issues in IAS 7 Statement of Cash Flows; ● Rate Regulated Accounting – International Developments and Pakistan Experience; ● Islamic Finance: Adoption of IFRS 17 and Takaful; ● IFRS 17 Application in Thailand; ● Corporate Tax Considerations under IFRS 17 in South Korea; ● Liquidation Basis Financial Reporting Standard; and ● Update on IFRS Application in Indonesia.
Mr. Angus Thomson presented from IFRS 16 Leases transition relief and practical expedients’ together with the representative of the Australian Accounting Standards Board, while Puan Nadiah Ismail presented ‘Islamic Finance: Adoption of IFRS 17 and Takaful’.
‘Lessons topic the 107 Financial Reporting Foundation 2 0 2 1 Events in 2021 Events Description Outreach Activities Joint IASB-MASB Outreach on Post-implementation Review (PIR) of IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in Other Entities 17 and 18 March 2021 – via Virtual Meeting As a step to obtain valuable feedback from the preparers of financial statements on IASB Request for Information for Post-implementation Review of IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in Other Entities, MASB organised joint outreach sessions with IASB.
The sessions were facilitated by IASB Board Member, Ms. Ann Tarca and IASB Technical Staff, Mr. Filippo Poli, Ms. Michelle Sansom, Mr. Zhen Xu and Ms. Wenyi Zheng; and were attended by representatives from public listed companies (PLCs).

MASB was represented by Encik Chan Hooi Lam, Puan Tan Bee Leng, Puan Nadiah Ismail, Puan Idawaty Mohd Hasan, Puan Cathrine Su and Encik Mohd Nazi Mat Yusoff.
Session with SMEs preparers: Review of the IFRS for SMEs Standard MASB organised two sessions between IASB staff and SMEs preparers to gather views on the comprehensive review of the IFRS for SMEs Standard, particularly on the alignment of the IFRS for SMEs Standard with IFRS Standards.

25 and 29 March 2021 – via Virtual Meeting from SMEs The sessions were attended by organisations and SMEs preparers; and IASB Technical Staff, Ms. Michelle Sansom and Mr. Yousouf Hansye.
representatives MASB was represented by Puan Tan Bee Leng, Puan Nadiah Ismail, and Senior Technical Executive, Puan Maisarah Mustapa.
Joint IASB-MASB Outreach on IASB Exposure Draft ED/2021/1 Regulatory Assets and Regulatory Liabilities During the year, the IASB published Exposure Draft ED/2021/1 Regulatory Assets and Regulatory Liabilities which proposed for a new accounting standard that would require companies subject to rate regulation to give investors better information about their financial performance.
9 April 2021 – via Virtual Conference MASB in collaboration with the IASB organised an outreach on the Exposure Draft to provide a platform for the stakeholders to share their views on the proposals.

The outreach was attended by representatives from PLCs and was facilitated by IASB Board Members, Dr. Jianqiao Lu and Ms. Rika Suzuki; IASB Technical Staff, Mr. Raghava Tirumala, Ms. Mariela Isern, Mr. Zicheng Wang, and Mr. Shahid Umar.
MASB was represented by Board Member, Encik New Kheng Chee; Puan Tan Bee Leng, Ms. Patricia McBride, Puan Nadiah Ismail, Puan Cathrine Su and Encik Mohd Nazi Mat Yusoff.
2 0 2 1 Financial Reporting Foundation 108 Events in 2021 Events Description Outreach Activities Engagement Session with IASB on Exposure Draft ED/2021/3 Disclosure Requirements in IFRS Standards—A Pilot Approach 11 June 2021 – via Virtual Conference Virtual Public Forum: IASB Exposure Draft ED/2021/3 Disclosure Requirements in IFRS Standards—A Pilot Approach 26 July 2021 – via Virtual Conference IASB-CASC-MASB Virtual Outreach on Request for Information: Third Agenda Consultation 27 July 2021 – via Virtual Conference MASB organised an engagement session with IASB on Exposure Draft ED/2021/3 Disclosure Requirements in IFRS Standards—A Pilot Approach for the MASB working group members and other key stakeholders.
The engagement session was facilitated by IASB Technical Staff, Ms. Kathryn Donkersley.

MASB was represented by its Board Members, Dato’ Soo Chan Fai, Encik Chan Hooi Lam and Encik Lee Kong Weng.

Also in attendance were Puan Tan Bee Leng and the MASB technical team.

MASB organised a virtual public forum to provide an overview of IASB Exposure Draft ED/2021/3 Disclosure Requirements in IFRS Standards—A Pilot Approach and to gather views on the proposals.
The public forum explored the IASB’s proposals for a new approach to developing the disclosure requirements in IFRS Standards.

The application of disclosure requirements developed based on the new approach is expected to result in changes to the way stakeholders the preparation, review, audit, and enforcement of approach disclosures in financial statements.

The public forum was facilitated by Encik Danny Tan Boon Wooi, Project Manager for MASB Working Group 70 Disclosure Initiative.
The forum was attended by 85 participants, comprising academia, practitioners, preparers, professional bodies and regulators.

the IASB, MASB and the China In collaboration with Accounting Standards Committee (CASC) jointly organised an outreach session to provide an overview of the Request for Information: Third Agenda Consultation and gather views from participants on what the IASB’s priorities should be over the next five years.
The outreach session was facilitated by Dr. Jianqiao Lu; IASB Technical Director, Ms. Nili Shah; and IASB Technical Staff, Mr. Rafal Markowski.

The session was attended by 58 participants from eight jurisdictions, namely, Australia, China, Hong Kong, India, Malaysia, Singapore, Sri Lanka and South Korea.

There was a good mix of participants, comprising academia, standard-setters, practitioners, preparers and regulators.
109 Financial Reporting Foundation 2 0 2 1 Events in 2021 Events Description Outreach Activities IASB-ICAI-MASB Virtual Outreach on IASB Exposure Draft ED/2021/7 Subsidiaries without Public Accountability: Disclosures 21 October 2021 – via Virtual Conference IASB and The in collaboration with Institute of the MASB Chartered Accountants of India (ICAI) jointly organised an outreach session on IASB Exposure Draft ED/2021/7 Subsidiaries without Public Accountability: Disclosures.
The virtual outreach provided an overview of the Exposure Draft which sets out proposals for a new IFRS Standard that permits eligible subsidiaries to apply reduced disclosure requirements with the recognition, measurement and presentation requirements in the IFRS Standards.

The virtual outreach was facilitated by Ms. Ann Tarca and Ms. Rika Suzuki; and attended by IASB Technical Staff, Mr. Jan Carlo Perera and Cik Hazirah Hasni.
The session was attended by 54 participants from 12 countries, namely, Australia, Hong Kong, Japan, Malaysia, New Zealand, Pakistan, South Korea, Switzerland, the United Kingdom and Vietnam.

There was a good mix of participants, comprising academia, standard-setters, practitioners, preparers and regulators.
Indonesia, India, Sessions with Academia / Students the year, MASB conducted During to brief students of local universities on MASB’s roles and responsibilities as the national accounting standard-setter as well as on the financial reporting frameworks in Malaysia.

two sessions In total, 215 students attended the briefing sessions, as detailed below: 23 October 2021 – via Virtual Conference Universiti Malaysia Terengganu (UMT) The briefing was conducted by Puan Nadiah Ismail and Cik Fara Naziha Mat Khamal.
It was attended by 150 students.

15 December 2021 – via Virtual Conference Universiti Teknologi MARA (UiTM) The briefing was conducted by Puan Maisarah Mustapa.

It was attended by 65 students.

In addition, MASB was involved in two virtual sessions to provide students and lecturers with a platform to better understand the roles and responsibilities of the MFRS Application and Implementation Committee (MAIC) in the financial reporting ecosystem as well as its due process.
In total, 305 students attended the briefing sessions, as detailed below: 16 June 2021 – via Virtual Conference Politeknik Ungku Omar This session was organised by The Malaysian Institute of Certified Public Accountants (MICPA) and was presented by Project 2 0 2 1 Financial Reporting Foundation 110 Events in 2021 Events Description Sessions with Academia / Students Director (MFRS Implementation Activities), Encik Foo Yoke Pin.

It was attended by 217 students.


18 December 2021 – via Virtual Conference Universiti Sains Malaysia (USM) The briefing was conducted by Encik Foo Yoke Pin.

It was attended by five lecturers and 88 students.
Speaking Engagement BNM-FIDE FORUM-MASB Dialogue on MFRS 17 Insurance Contracts 20 April 2021 – via Virtual Conference accounting The contracts, MFRS 17 Insurance Contracts, will fundamentally change the measurement and reporting of insurance and takaful contracts when it comes into effect on 1 January 2023. insurance standard for In view of that, FIDE FORUM organised a dialogue session for directors of banks on Insurance Contracts: What Every Director Must Know'.
'MFRS 17 The session was presented by Mr. Darrel Scott, Chair of MASB MFRS 17 Implementation Task Force and former IASB Board Member; and was attended by 170 directors.

Opening remarks was delivered by the Assistant Governor of BNM, who is also FRF Member, Encik Aznan Abdul Aziz; and the Dialogue was moderated by Encik New Kheng Chee.
The Dialogue was attended by Encik Mohamed Raslan Abdul Rahman and Datuk Mohd Nasir Ahmad; Board Members and Advisor, Encik Chan Hooi Lam, Encik Lee Kong Weng, Dato’ Mohamed Rafique Merican (the then Board Member), and Encik Yap Weng Seong.

Puan Nor Yati Ahmad attended on behalf of Board Member, Datuk Dr. Yacob bin Mustafa.

Also in attendance were Puan Tan Bee Leng, Puan Nadiah Ismail and Cik Fara Naziha Mat Khamal.
ASEAN Federation of Accountants (AFA) – IASB Third Agenda Consultation AFA organised a webinar to facilitate a discussion between the ASEAN stakeholders and the IASB as part of its Third Agenda Consultation.

5 July 2021 – via Webinar Ms. Rika Suzuki and IASB Technical Staff, Ms. Rachel Knubley and Mr. Rafal Markowski, presented the IASB’s consultation for its 2022-2026 activities and work plan.

The webinar was attended by 200 participants from 16 countries.
MASB was represented by Puan Tan Bee Leng as one of the panelists.

111 Financial Reporting Foundation 2 0 2 1 Events in 2021 Events Description Speaking Engagement Islamic Finance Conference 2021 27 October 2021 – via Virtual Conference The MASB Secretariat was invited to be one of the speakers at the Islamic Finance Conference 2021 themed ‘Islamic Finance: Latest Developments and Drivers for Growth in a Post-Pandemic World’, organised by the Malaysian Institute of Accountants (MIA).
MASB was represented by Puan Nadiah Ismail, who presented ‘Updates of Financial Reporting on Islamic Financial Transactions’.

South Asian Federation of Accountants (SAFA) Accounting Standards Forum 2021 8 December 2021 – via Virtual Conference The MASB Secretariat was invited to speak at the SAFA Accounting Standards Forum 2021 themed ‘Challenges in Financial Reporting and the Way Forward’, hosted by CA Sri Lanka.

the Mr. Angus Thomson and Puan Nadiah topic, 'Islamic Finance to IFRS 9 and IFRS 17'.
The Forum was attended by 150 participants.

Ismail presented This page is intentionally left blank RESULT OF EVALUATION OF OUTCOMES FOR 2021 (SPA 1/2012) 2 0 2 1 Financial Reporting Foundation 114 This page is intentionally left blank OBJECTIVES (1) To develop high quality accounting standards for financial reporting that benefit users, preparers, auditors and the public.

1.
1.

List of technical pronouncements issued by the MASB in 2021 OUTPUT PRODUCED DESIRED OUTCOME Timely adoption of IASB standards after due process.
PERFORMANCE INDICATOR Date issued by the IASB/IFRIC & its effective date MFRS Framework Issue Date Effective Date Issue Date Effective Date Amendments to MFRS Standards Disclosure of Accounting Policies (Amendments to MFRS 101 Presentation of Financial Statements and MFRS Practice Statement 2 Making Materiality Judgements) 15 March 2021 Definition of Accounting Estimates (Amendments to MFRS 108 Accounting Policies, Changes in Accounting Estimates and Errors) 15 March 2021 1 January 2023 12 February 2021 1 January 2023 1 January 2023 12 February 2021 1 January 2023 Covid-19-Related Rent Concessions beyond 30 June 2021 (Amendment to MFRS 16 Leases) Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments to MFRS 112 Income Taxes) 6 April 2021 1 April 2021 31 March 2021 1 April 2021 30 June 2021 1 January 2023 7 May 2021 1 January 2023 Initial Application of MFRS 17 and MFRS 9—Comparative Information (Amendment to MFRS 17 Insurance Contracts) 30 December 2021 1 January 2023 9 December 2021 1 January 2023 ACTUAL PERFORMANCE All IFRS Standards issued by IASB and Agenda Decisions issued by IFRIC were adopted after due process in a timely manner.
IFRS Interpretations Committee (IFRIC) Agenda Decisions No.
Title IFRS 9 Financial Instruments Notification issued in Published by IFRIC 1 Hedging Variability in Cash Flows Due to Real Interest Rates June 2021 May 2021 IFRS 16 Leases 2 Non-refundable Value Added Tax on Lease Payments November 2021 October 2021 IAS 2 Inventories 3 Costs Necessary to Sell Inventories July 2021 June 2021 IAS 10 Events after the Reporting Period 4 Preparation of Financial Statements when an Entity is No Longer a Going Concern July 2021 June 2021 IAS 19 Employee Benefits 5 Attributing Benefit to Periods of Service June 2021 May 2021 IAS 32 Financial Instruments: Presentation 6 Accounting for Warrants that are Classified as Financial Liabilities on Initial Recognition November 2021 October 2021 IAS 38 Intangible Assets 7 Configuration or Customisation Costs in a Cloud Computing Arrangement May 2021 April 2021 2 0 2 1 Financial Reporting Foundation 116 Result of Evaluation of Outcomes for 2021 (SPA 1/2012) OBJECTIVES (1) To develop high quality accounting standards for financial reporting that benefit users, preparers, auditors and the public (continued).
KPI achievement (%) 2.

MASB Technical Pronouncement OUTPUT PRODUCED DESIRED OUTCOME Timely adoption of IASB standards after due process.

PERFORMANCE INDICATOR Date issued by the IASB/IFRIC and its effective date No.

Title 1 Preface to Technical Pronouncements and Guidance Issue Date 19 February 2021 Issue Date Effective Date No equivalent document ACTUAL PERFORMANCE All IFRS Standards issued by IASB and Agenda Decisions issued by IFRIC were adopted after due process in a timely manner.


100% 117 Financial Reporting Foundation 2 0 2 1 Result of Evaluation of Outcomes for 2021 (SPA 1/2012) OBJECTIVES (2) To participate in and contribute to the IASB standard-setting process in the development of a single set of high quality globally accepted financial reporting standards for international use.

1.
1.

List of draft technical pronouncements issued in 2021 OUTPUT PRODUCED DESIRED OUTCOME PERFORMANCE INDICATOR Full adherence to due process and in a timely manner.

Date issued by IASB, IFRIC and IFRS Foundation (IFRSF) and due date for comment No.

Title Issue Date Comment due date to MASB Issue Date Due Date ACTUAL PERFORMANCE All draft pronouncements issued by IASB, IFRIC and IFRSF were issued for public exposure in Malaysia in a timely manner.
IFRS Foundation Exposure Draft 1 ED/2021/5 Proposed Targeted Amendments to the IFRS Foundation Constitution to Accommodate an International Sustainability Standards Board to Set IFRS Sustainability Standards IASB Requests for Information 3 May 2021 30 June 2021 30 April 2021 29 July 2021 2 3 Third Agenda Consultation 2 April 2021 13 August 2021 30 March 2021 27 September 2021 Post-implementation Review of IFRS 9 Financial Instruments— Classification and Measurement 1 October 2021 31 December 2021 30 September 2021 28 January 2022 IASB Exposure Drafts ED/2021/1 Regulatory Assets and Regulatory Liabilities 2 February 2021 30 June 2021 ED/2021/2 Covid-19-Related Rent Concessions beyond 30 June 2021 (Proposed amendment to IFRS 16 Leases) 11 February 2021 19 February 2021 2 April 2021 18 November 2021 ED/2021/3 Disclosure Requirements in IFRS Standards—A Pilot Approach (Proposed amendments to IFRS 13 Fair Value Measurement and IAS 19 Employee Benefits) ED/2021/4 Lack of Exchangeability (Proposed amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates) ED/2021/6 Management Commentary ED/2021/7 Subsidiaries without Public Accountability: Disclosures ED/2021/8 Initial Application of IFRS 17 and IFRS 9—Comparative Information (Proposed amendment to IFRS 17 Insurance Contracts) 26 April 2021 30 July 2021 20 April 2021 1 September 2021 1 June 2021 29 July 2021 22 October 2021 10 December 2021 27 May 2021 23 November 2021 26 July 2021 31 January 2022 29 July 2021 27 August 2021 28 July 2021 27 September 2021 28 January 2021 30 July 2021 11 February 2021 25 February 2021 25 March 2021 12 January 2022 ED/2021/9 Non-current Liabilities with Covenants (Proposed amendments to IAS 1 Presentation of Financial Statements) 23 November 2021 22 February 2022 ED/2021/10 Supplier Finance Arrangements (Proposed amendments to IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures) 30 November 2021 28 February 2022 19 November 2021 21 March 2022 30 November 2021 28 March 2022 2 0 2 1 Financial Reporting Foundation 118 Result of Evaluation of Outcomes for 2021 (SPA 1/2012) OBJECTIVES (2) To participate in and contribute to the IASB standard-setting process in the development of a single set of high quality globally accepted financial reporting standards for international use (continued).
OUTPUT PRODUCED Issue Date Comment due date to MASB DESIRED OUTCOME Full adherence to due process and in a timely manner.

PERFORMANCE INDICATOR Issue Date Due Date No.
Title IFRIC Tentative Agenda Decisions 13 Costs Necessary to Sell Inventories (IAS 2 Inventories) 16 February 2021 Preparation of Financial Statements when an Entity is No Longer a Going Concern (IAS 10 Events after the Reporting Period) 16 February 2021 19 March 2021 19 March 2021 12 February 2021 14 April 2021 12 February 2021 14 April 2021 Non-refundable Value Added Tax on Lease Payments (IFRS 16 Leases) Accounting for Warrants that are Classified as Financial Liabilities on Initial Recognition (IAS 32 Financial Instruments: Presentation) 2 April 2021 30 April 2021 24 March 2021 24 May 2021 2 April 2021 30 April 2021 24 March 2021 24 May 2021 14 15 16 17 Economic Benefits from Use of a Windfarm (IFRS 16 Leases) 21 June 2021 16 July 2021 17 June 2021 16 August 2021 18 19 20 21 TLTRO III Transactions (IFRS 9 Financial Instruments and IAS 20 Accounting for Government Grants and Disclosure of Government Assistance) 21 June 2021 16 July 2021 17 June 2021 16 August 2021 Cash Received via Electronic Transfer as Settlement for a Financial Asset (IFRS 9 Financial Instruments) 27 September 2021 25 October 2021 Demand Deposits with Restrictions on Use (IAS 7 Statement of Cash Flows) 27 September 2021 25 October 2021 Principal versus Agent: Software Reseller (IFRS 15 Revenue from Contracts with Customers) 13 December 2021 14 January 2022 23 September 2021 25 November 2021 23 September 2021 25 November 2021 10 December 2021 8 February 2022 2. Review of IASB draft pronouncements, IFRIC Tentative Agenda Decisions and IFRS Foundation Consultation Paper and list of comment letters submitted Date issued by IASB, IFRIC and IFRS Foundation and due date for comment No.
Title IFRS Foundation Exposure Draft 1 ED/2021/5 Proposed Targeted Amendments to the IFRS Foundation Constitution to Accommodate an International Sustainability Standards Board to Set IFRS Sustainability Standards IASB Requests for Information 2 Post-implementation Review of IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in Other Entities Comment letter submitted on Issue Date Due Date 29 July 2021 30 April 2021 29 July 2021 10 May 2021 9 December 2020 10 May 2021 119 Financial Reporting Foundation 2 0 2 1 ACTUAL PERFORMANCE All draft pronouncements issued by IASB, IFRIC and IFRSF were issued for public exposure in Malaysia in a timely manner.
Comment letters were submitted to IASB, IFRIC and IFRS Foundation in a timely manner after consultation with our constituents.

Result of Evaluation of Outcomes for 2021 (SPA 1/2012) OUTPUT PRODUCED OBJECTIVES (2) To participate in and contribute to the IASB standard-setting process in the development of a single set of high quality globally accepted financial reporting standards for international use (continued).

No.
No.

Title IASB Requests for Information 3 Third Agenda Consultation IASB Discussion Paper 4 DP/2020/2 Business Combinations under Common Control IASB Exposure Drafts DESIRED OUTCOME Full adherence to due process and in a timely manner.
PERFORMANCE INDICATOR Issue Date Due Date 30 March 2021 27 September 2021 30 November 2020 1 September 2021 Comment letter submitted on 27 September 2021 1 September 2021 ACTUAL PERFORMANCE Comment letters were submitted to IASB, IFRIC and IFRS Foundation in a timely manner after consultation with our constituents.
ED/2021/2 Covid-19-Related Rent Concessions beyond 30 June 2021 (Proposed amendment to IFRS 16 Leases) 25 February 2021 11 February 2021 25 February 2021 ED/2020/4 Lease Liability in a Sale and Leaseback (Proposed amendment to IFRS 16 Leases) 29 March 2021 27 November 2020 29 March 2021 ED/2021/1 Regulatory Assets and Regulatory Liabilities 30 July 2021 28 January 2021 30 July 2021 ED/2021/4 Lack of Exchangeability (Proposed amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates) 1 September 2021 ED/2021/8 Initial Application of IFRS 17 and IFRS 9—Comparative Information (Proposed amendment to IFRS 17 Insurance Contracts) 24 September 2021 10 ED/2021/6 Management Commentary IFRIC Tentative Agenda Decisions 23 November 2021 20 April 2021 1 September 2021 28 July 2021 27 September 2021 27 May 2021 23 November 2021 11 Classification of Debt with Covenants as Current or Non-current (IAS 1 Presentation of Financial Statements) 15 February 2021 14 December 2020 15 February 2021 12 Attributing Benefit to Periods of Service (IAS 19 Employee Benefits) 15 February 2021 14 December 2020 15 February 2021 13 Configuration or Customisation Costs in a Cloud Computing Arrangement (IAS 38 Intangible Assets) 15 February 2021 14 December 2020 15 February 2021 14 Costs Necessary to Sell Inventories (IAS 2 Inventories) 15 Preparation of Financial Statements when an Entity is No Longer a Going Concern (IAS 10 Events after the Reporting Period) 14 April 2021 14 April 2021 12 February 2021 14 April 2021 12 February 2021 14 April 2021 16 Non-refundable Value Added Tax on Lease Payments (IFRS 16 Leases) 24 May 2021 24 March 2021 24 May 2021 2 0 2 1 Financial Reporting Foundation 120 Result of Evaluation of Outcomes for 2021 (SPA 1/2012) OBJECTIVES (2) To participate in and contribute to the IASB standard-setting process in the development of a single set of high quality globally accepted financial reporting standards for international use (continued).
OUTPUT PRODUCED Comment letter submitted on DESIRED OUTCOME Full adherence to due process and in a timely manner.

PERFORMANCE INDICATOR Issue Date Due Date No.
Title IFRIC Tentative Agenda Decisions 17 Accounting for Warrants that are Classified as Financial Liabilities on Initial Recognition (IAS 32 Financial Instruments: Presentation) 24 May 2021 24 March 2021 24 May 2021 18 Economic Benefits from Use of a Windfarm (IFRS 16 Leases) 16 August 2021 17 June 2021 16 August 2021 ACTUAL PERFORMANCE Comment letters were submitted to IASB, IFRIC and IFRS Foundation in a timely manner after consultation with our constituents.
19 20 TLTRO III Transactions (IFRS 9 Financial Instruments and IAS 20 Accounting for Government Grants and Disclosure of Government Assistance) 16 August 2021 Cash Received via Electronic Transfer as Settlement for a Financial Asset (IFRS 9 Financial Instruments) 21 Demand Deposits with Restrictions on Use (IAS 7 Statement of Cash Flows) 25 November 2021 25 November 2021 17 June 2021 16 August 2021 23 September 2021 25 November 2021 23 September 2021 25 November 2021 KPI achievement (%) All draft pronouncements issued by IASB, IFRIC and IFRSF were issued for public exposure in Malaysia in a timely manner.
Comment letters were submitted to IASB, IFRIC and IFRSF in a timely manner after consultation with our constituents.

Overall KPI (%) 100% 100% 100% 121 Financial Reporting Foundation 2 0 2 1 Result of Evaluation of Outcomes for 2021 (SPA 1/2012) OBJECTIVES (3) To collaborate with other national standard- setters for the development of globally accepted financial reporting standards for international use.

OUTPUT PRODUCED 1.
OUTPUT PRODUCED 1.

Participation at international standard-setting events Date Event Brief Description DESIRED OUTCOME PERFORMANCE INDICATOR ACTUAL PERFORMANCE Ensuring Malaysian voice be heard and to influence issues relevant to Malaysia.

Presentation / participation in international / regional meetings or forums.

Achieved high level of collaboration and enhanced international visibility.
IASB SME Implementation Group (SMEIG) Meeting SMEIG is a group established by the IASB and has two main responsibilities, namely to consider implementation and application questions of the IFRS for SMEs Standard, and to make recommendations to the IASB on the need to amend the IFRS for SMEs Standard.

MASB Executive Director, Puan Tan Bee Leng was reappointed as a member of the SMEIG, effective 1 July 2019 for a second consecutive term of three years.
IASB SMEIG meetings were held on these dates and discussed the following topics: 4-5 February 2021 – via Video Conference ● Part A—Strategic and general questions: - Alignment approach and principles; and - When to consider alignment.

9 September 2021 – via Video Conference ● Update on work completed: - Outreach with preparers ● Update on topics: - - Conceptual Framework; and Financial Instruments.
● Alignment with IFRS 16 Leases; ● Alignment with IAS 19 Employee Benefits; ● Simplifications to measurement of defined benefit obligation; ● Update to multiple sections of the IFRS for SMEs Standard for amendments to IFRS Standards and IFRIC Interpretations; ● Alignment with IFRS 14 Regulatory Deferral Accounts; and ● Subsidiaries without Public Accountability.
In these meetings, Puan Tan took the opportunity to voice out the MASB’s views on several issues relating to accounting for SMEs, including Conceptual Framework, Leases and Bearer Plants.

2 0 2 1 Financial Reporting Foundation 122 Result of Evaluation of Outcomes for 2021 (SPA 1/2012) OBJECTIVES (3) To collaborate with other national standard- setters for the development of globally accepted financial reporting standards for international use (continued).
OUTPUT PRODUCED Date Event Brief Description IFRS Advisory Council Meeting The Advisory Council is the formal strategic advisory body to the Trustees of the IFRS Foundation (IFRSF), the IASB and the International Sustainability Standards Board (ISSB).

Its focus is to provide strategic support and advice to the IFRSF.

DESIRED OUTCOME PERFORMANCE INDICATOR ACTUAL PERFORMANCE Ensuring Malaysian voice be heard and to influence issues relevant to Malaysia.
Presentation / participation in international / regional meetings or forums.

Achieved high level of collaboration and enhanced international visibility.

MASB was represented by Puan Tan Bee Leng, who was appointed as MASB individual representative to the IFRS Advisory Council, effective 1 January 2020 for a three-year period.

Throughout the year, the meetings discussed updates on the Trustees and IASB’s activities.
Topics discussed included post COVID-19 planning, sustainability- related reporting, IASB’s Third Agenda Consultation, and feedback from previous meetings.

Puan Tan Bee Leng participated in all the five meetings held virtually on the following dates: ● 23 February 2021 ● 13 April 2021 ● 11 May 2021 ● 13 September 2021 ● 10 November 2021 The IFR4NPO TAG chaired by CIPFA consists of members nominated by national standard-setters (NSS) and these members serve as volunteers in an individual capacity.
The role of the IFR4NPO TAG in the development of non-mandatory internationally-applicable for Non-Profit Organisations (NPOs) will be to provide a forum where the IFR4NPO TAG Secretariat can consult experienced individuals from NSS, on the overall approach, and the key technical issues that it covers in the development of high quality international financial reporting guidance for the NPOs.
reporting guidance financial In developing the financial reporting guidance for NPOs, the IFR4NPO TAG held four meetings to discuss the development of the draft Consultation Paper.
These meetings were held virtually on: ● 3 March 2021 ● 8 September 2021 The Chartered Institute of Public Finance & Accountancy (CIPFA) – International Financial Reporting for Non-Profit Organisations (IFR4NPO) Technical Advisory Group (TAG) Meeting 123 Financial Reporting Foundation 2 0 2 1 Result of Evaluation of Outcomes for 2021 (SPA 1/2012) DESIRED OUTCOME PERFORMANCE INDICATOR ACTUAL PERFORMANCE Ensuring Malaysian voice be heard and to influence issues relevant to Malaysia.
Presentation / participation in international / regional meetings or forums.

Achieved high level of collaboration and enhanced international visibility.

OBJECTIVES (3) To collaborate with other national standard- setters for the development of globally accepted financial reporting standards for international use (continued).

OUTPUT PRODUCED Date Event Brief Description ● 5 October 2021 ● 1 December 2021 Puan Tan Bee Leng was nominated by the MASB to serve as a member of IFR4NPO TAG.
She attended all the above meetings.

8-9 March 2021 International Forum of Accounting Standard Setters (IFASS) Meeting – via Virtual Meeting The IFASS is an informal network of NSS from around the world and other organisations that have close involvement in financial reporting issues.

IFASS is a platform for NSS and interested stakeholders to discuss matters of common interest, including developments in IFRS Standards.
The virtual meeting was participated by NSS from 33 countries and the following topics were discussed during the two-day virtual meeting: ● EFRAG Initiative on Non-Financial Reporting; ● Disclosure Initiative – Subsidiaries that are SMEs; ● Going Concern; ● Separate Financial Statements; ● Future of Corporate Reporting; ● Post-Implementation Review of IFRS 10, IFRS 11 and IFRS 12; ● IFR4NPO Project Update; ● Agenda Consultation; and ● Business Combinations under Common Control.
MASB was represented by the then Chairman, Encik Mohamed Raslan Abdul Rahman; Puan Tan Bee Leng; Assistant Associate Director, Puan Nadiah Ismail; and Technical Managers, Puan Cathrine Su and Encik Mohd Nazi Mat Yusoff.
The following were the agenda for the two-day meeting: ● Message from IASB Chair and responses to questions from IFASS members; ● Climate-related disclosure; ● Regulatory assets and regulatory liabilities – Thoughts on the IASB exposure draft; ● IPSASB Update; 29-30 September 2021 – via Virtual Meeting 2 0 2 1 Financial Reporting Foundation 124 Result of Evaluation of Outcomes for 2021 (SPA 1/2012) DESIRED OUTCOME PERFORMANCE INDICATOR ACTUAL PERFORMANCE Ensuring Malaysian voice be heard and to influence issues relevant to Malaysia.
Presentation / participation in international / regional meetings or forums.

Achieved high level of collaboration and enhanced international visibility.

OBJECTIVES (3) To collaborate with other national standard- setters for the development of globally accepted financial reporting standards for international use (continued).
OUTPUT PRODUCED Date Event Brief Description 17-18 May 2021 21st IASB Emerging Economies Group (EEG) Meeting – via Virtual Meeting ● IFR4NPO Project Update; ● Equity method of accounting; ● Accounting estimation and estimates; ● Issues surrounding separate financial statements; and ● Intangible Assets.

MASB was represented by Puan Tan Bee Leng, Puan Nadiah Ismail and Puan Cathrine Su.

In this meeting, Puan Tan led the sub-group discussion on Intangible Assets.
The IASB EEG was set up at the direction of the IFRSF Trustees, with the aim of enhancing participation of emerging economies in the development of IFRS Standards.

EEG held its 21st bi-annual meeting on 17-18 May 2021.
Attendees IASB Board Members, Mr. Tadeu Cendon (Chair of EEG), included Dr. Jianqiao Lu and Mr. Bruce Mackenzie; IASB Technical Staff, Mr. Fred Nieto and Ms. Roberta Ravelli; as well as delegates from Argentina, Brazil, China, India, Indonesia, Malaysia, Mexico, Russia, Saudi Arabia, South Africa, South Korea and Turkey.
The meeting discussed the following topics: ● Rate-regulated Activities; ● Strategy and Governance projects: update on sustainability reporting; ● Strategy and Governance projects: Third Agenda Consultation; ● Business Combinations Under Common Control; ● Agenda decisions: IFRS Interpretations Committee; ● IFRS for SMEs Standard review; ● Applying IAS 12 Income Taxes; ● Update on IASB Activities.

MASB was represented by Puan Tan Bee Leng and its Project Director, Ms. Patricia McBride.
Puan Tan voiced the need to increase the level of focus on maintenance and consistent application, and correspondingly reduce the level of focus on new IFRS Standards and major amendments to IFRS Standards 125 Financial Reporting Foundation 2 0 2 1 Result of Evaluation of Outcomes for 2021 (SPA 1/2012) OBJECTIVES (3) To collaborate with other national standard- setters for the development of globally accepted financial reporting standards for international use (continued).
OUTPUT PRODUCED Date Event Brief Description because stakeholders need a period of relative calm.

She also shared the MASB’s priority of financial reporting issues that the IASB could add to its 2022-2026 work plan.

Ms. McBride presented MASB’s view on the rate regulated activities project.

2-3 December 2021 22nd IASB EEG Meeting – via Virtual Meeting The 22nd IASB EEG Meeting was held virtually on 2-3 December 2021.
Attendees included IASB Board Members, Mr. Tadeu Cendon (Chair of EEG), Dr. Jianqiao Lu and Mr. Bruce Mackenzie; IASB Technical Staff, Ms. Roberta Ravelli; as well as delegates from Argentina, Brazil, China, India, Indonesia, Malaysia, Mexico, Russia, Saudi Arabia, South Africa, South Korea and Turkey.

DESIRED OUTCOME PERFORMANCE INDICATOR ACTUAL PERFORMANCE Ensuring Malaysian voice be heard and to influence issues relevant to Malaysia.
Presentation / participation in international / regional meetings or forums.

Achieved high level of collaboration and enhanced international visibility.

The following topics were discussed during the meeting: ● Disclosure Initiative—Subsidiaries without Public Accountability: Disclosures; ● Equity Method; ● Sustainability-related Reporting; ● Post-implementation Review of IFRS 9—Classification and Measurement (PIR); and ● Update on IASB activities.

represented by Puan Tan Bee Leng.


MASB was this meeting, Puan Tan presented the MASB’s comments on the Disclosure Initiative and PIR projects as well as raised several application issues on equity method of accounting that were encountered by Malaysian stakeholders.

In 12 July 2021 IASB EEG – Special Meeting The meeting discussed the following topics: ● Disclosure Initiative—Targeted Standards-level Review of Disclosures; and – via Virtual Meeting ● Management Commentary.
MASB was represented by Board Member, Encik Lee Kong Weng and Puan Tan Bee Leng.

27-28 September 2021 World Standard- Setters (WSS) Meeting – via Virtual Conference The IASB has been hosting the WSS Meeting annually for the world’s financial reporting standard-setters.

The conference provided an opportunity for NSS to get an update on and discuss the IFRSF’s activities.
The following subject matters were discussed during the two-day meeting: ● Q&A on sustainability reporting; 2 0 2 1 Financial Reporting Foundation 126 Result of Evaluation of Outcomes for 2021 (SPA 1/2012) DESIRED OUTCOME PERFORMANCE INDICATOR ACTUAL PERFORMANCE Ensuring Malaysian voice be heard and to influence issues relevant to Malaysia.

Presentation / participation in international / regional meetings or forums.

Achieved high level of collaboration and enhanced international visibility.
OBJECTIVES (3) To collaborate with other national standard- setters for the development of globally accepted financial reporting standards for international use (continued).

OUTPUT PRODUCED Date Event Brief Description ● How has the pandemic changed stakeholder engagement?

; ● Agenda Consultation: what’s next?


; ● Subsidiaries without Public Accountability: Disclosures; ● Disclosure Requirements in IFRS Standards—A Pilot Approach; ● Post-implementation Review of IFRS 9—Classification and Measurement; ● Q&A on IASB Update and IFRIC Update; and ● Towards a revised Management Commentary Practice Statement.

MASB was represented by its Chairman, Datuk Mohd Nasir Ahmad and Puan Tan Bee Leng.
3-4 November 2021 IASB Research Forum 2021 The IASB together with the academic journal, Accounting and Finance, hosted the IASB Research Forum 2021.

– via Virtual Meeting The Forum was held to encourage discussion between academics and non-academics, including standard-setters, investors, regulators, auditors and preparers of financial statements.
The following were the agenda for the two-day Forum: ● Implementation Costs of IFRS 9 in China; ● Managing transparency: Does IFRS and Global Reporting Initiative (GRI) adoption impact the understandability of corporate reports by Chinese listed companies?

; ● Is Australian Accounting Standard AASB 6 Exploration for and Evaluation of Mineral Resources still fit for purpose?

; ● Do acquiring firms achieve their mergers and acquisitions’ objectives: Evidence from Japan?
; ● The impact of IFRS adoption on value relevance of accounting information in Saudi Arabia; ● Decision usefulness of the accounting standard IFRS for SMEs: Qualitative evidence from Sri Lanka; ● Is IFRS a ‘trusted’ language for private firm credit decisions?
An analysis of country differences in users’ perspective; 127 Financial Reporting Foundation 2 0 2 1 Result of Evaluation of Outcomes for 2021 (SPA 1/2012) DESIRED OUTCOME PERFORMANCE INDICATOR ACTUAL PERFORMANCE Ensuring Malaysian voice be heard and to influence issues relevant to Malaysia.

Presentation / participation in international / regional meetings or forums.

Achieved high level of collaboration and enhanced international visibility.
OBJECTIVES (3) To collaborate with other national standard- setters for the development of globally accepted financial reporting standards for international use (continued).

OUTPUT PRODUCED Date Event Brief Description ● What influences the implementation of IFRS for SMEs?

The Brazilian Case; and ● Fixing diluted earnings per share: recognising the dilutive effects of employee stock options.

MASB was represented by Puan Tan Bee Leng.


30 November 2021 Islamic Finance Consultative Group Meeting (IFCG) IFCG, formerly known as the Shariah-Compliant Instruments and Transactions Consultative Group, was established in 2013 by the IASB following its 2011 Agenda Consultation.

IFCG is currently chaired by Dato’ Mohammad Faiz Azmi and co-chaired by Mr. Bruce Mackenzie, IASB Board Member.
– via Virtual Meeting IFCG’s objective is to assist the IASB with matters relating to Islamic finance, focusing on challenges that might arise in the application of IFRS Standards to Islamic finance transactions.

The IFCG meeting was attended by delegates from Bahrain, Indonesia, Malaysia, Pakistan, Saudi Arabia, Turkey, United Arab Emirates as well as representatives from the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).
The following subject matters were discussed: ● Post-implementation Review of IFRS 9—Classification and Measurement; ● IFRS 17 Insurance Contracts and Takaful; and ● IASB technical update.

MASB was represented by Datuk Mohd Nasir Ahmad.

Also in attendance as observers were Board Member, Encik Chan Hooi Lam and Technical Advisor, Mr. Angus Thomson.
10 December 2021 IASB Accounting Standards Advisory Forum (ASAF) The objective of ASAF is to provide an advisory forum in which members can constructively contribute towards the achievement of the IASB’s goal of developing globally accepted high-quality accounting standards.

The ASAF comprises 12 non-voting members, represented by 12 individuals, plus the Chair.

The IASB Chair or the Vice-Chair acts as the Chair of ASAF.
- via Video Conference the Asian-Oceanian Standard-Setters Puan Tan Bee Leng represented Group (AOSSG) at ASAF on 10 December 2021 and presented preliminary feedback of AOSSG members on IASB Exposure Draft ED/2021/7 Subsidiaries without Public Accountability: Disclosures.
2 0 2 1 Financial Reporting Foundation 128 Result of Evaluation of Outcomes for 2021 (SPA 1/2012) DESIRED OUTCOME PERFORMANCE INDICATOR ACTUAL PERFORMANCE Ensuring Malaysian voice be heard and to influence issues relevant to Malaysia Presentation / participation in international / regional meetings or forums.

Achieved high level of collaboration and enhanced international visibility.
OBJECTIVES (3) To collaborate with other national standard- setters for the development of globally accepted financial reporting standards for international use (continued).

Asian-Oceanian Standard-Setters Group (AOSSG) OUTPUT PRODUCED AOSSG is a grouping of the accounting standard-setters in the Asian-Oceanian region.

The Group was formed to discuss issues and share experiences on the adoption of IFRS Standards and to contribute to the development of a high-quality set of global accounting standards.
AOSSG Chair’s Advisory Committee (CAC) Meetings MASB participated in AOSSG CAC Meetings which were held periodically to provide assistance to the AOSSG Chair and Vice-Chair in performing their functions, which included: ● planning and coordinating the activities of the AOSSG so as to maintain operational continuity of AOSSG activities, including meetings; ● exchanging information about the activities of AOSSG Working Groups, including providing input and direction at an early stage of the Working Group deliberations; ● consolidating views among the AOSSG on particular topics, and communicating with the IASB and the IFRSF Trustees on areas that are not covered by Working Groups; and ● exchanging views about AOSSG’s communication strategy.
Membership of the AOSSG CAC comprises Sri Lanka (Chair), Pakistan (Vice-Chair), Australia, China, Hong Kong, India, Japan, Malaysia, Singapore and South Korea.
During the year, MASB technical team, led by Puan Tan Bee Leng, participated in five AOSSG CAC meetings held virtually on the following dates: ● 19 January 2021 ● 16 March 2021 ● 20 May 2021 ● 29 July 2021 ● 22 November 2021 129 Financial Reporting Foundation 2 0 2 1 Result of Evaluation of Outcomes for 2021 (SPA 1/2012) OBJECTIVES (3) To collaborate with other national standard- setters for the development of globally accepted financial reporting standards for international use (continued).
OUTPUT PRODUCED AOSSG Interim Meeting Date Venue Brief Description 17 September 2021 Via Virtual Meeting AOSSG held an interim meeting prior to the AOSSG annual meeting.

The meeting discussed the following: ● Classification of Debt with Covenants as Current or Non-current; DESIRED OUTCOME PERFORMANCE INDICATOR ACTUAL PERFORMANCE Ensuring Malaysian voice be heard and to influence issues relevant to Malaysia.

Presentation / participation in international / regional meetings or forums.
Achieved high level of collaboration and enhanced international visibility.

● Supplier Finance Arrangements; ● Going Concern; ● Challenges in implementation of IFRS 17 in Sri Lanka; ● Implementation of IFRS 17 Insurance Contracts – Process adopted by MASB; ● Preparation of 2021 Annual AOSSG Meeting; and ● Update from AOSSG jurisdictions.

was represented MASB who presented ‘Implementation of IFRS 17 Insurance Contracts – Process Ismail; adopted by MASB’.
Also Senior Technical Manager, Cik Chow Hsiao Mei; and Technical Managers, Puan Idawaty Mohd Hasan and Puan Cathrine Su.
in attendance were Puan Nadiah Leng, Puan Bee Tan by AOSSG Working Group on IFRS for SMEs Meeting Date Venue Brief Description 15 October 2021 Via Virtual Meeting The AOSSG Working Group on IFRS for SMEs meeting was held to deliberate and consolidate views on IASB Exposure Draft ED/2021/7 Subsidiaries without Public Accountability: Disclosures Membership of the AOSSG Working Group on IFRS for SMEs comprises Malaysia (Lead), Bangladesh, Cambodia, Indonesia, Nepal, Pakistan, Sri Lanka and Syria.
2 0 2 1 Financial Reporting Foundation 130 Result of Evaluation of Outcomes for 2021 (SPA 1/2012) DESIRED OUTCOME PERFORMANCE INDICATOR ACTUAL PERFORMANCE Ensuring Malaysian voice be heard and to influence issues relevant to Malaysia.

Presentation / participation in international / regional meetings or forums.

Achieved high level of collaboration and enhanced international visibility.
OBJECTIVES (3) To collaborate with other national standard- setters for the development of globally accepted financial reporting standards for international use (continued).

OUTPUT PRODUCED AOSSG Working Group Meeting Date Venue Brief Description 22 November 2021 Via Virtual Meeting AOSSG held its Working Group meeting prior to the AOSSG annual meeting.
The following topics were discussed: ● IASB ED – Disclosure Requirements in IFRS Standards (A Pilot Approach); ● Request for Information – Third Agenda Consultation; and ● IASB ED – Subsidiaries without Public Accountability: Disclosures.

MASB was represented by Puan Tan Bee Leng, who presented the topic, ‘Subsidiaries without Public Accountability: Disclosures’.

Also in attendance were Puan Nadiah Ismail, Puan Idawaty Mohd Hasan and Puan Cathrine Su.
13th Annual AOSSG Meeting Date Venue Brief Description 23-24 November 2021 Via Virtual Meeting The 13th Annual Meeting of AOSSG was hosted by The Institute of Chartered Accountants of Sri Lanka.

Due to the COVID-19 pandemic, the annual meeting was held virtually.

The meeting was attended by 21 AOSSG member jurisdictions as well as representatives of the IASB.
MASB was represented by Datuk Mohd Nasir Ahmad, Puan Tan Bee Leng, Mr. Angus Thomson, Puan Nadiah Ismail, Puan Idawaty Mohd Hasan and Puan Cathrine Su.
The following technical topics were presented during the meeting by the respective standard-setters: ● IASB and IFRIC Technical Update; ● Lessons from IFRS 16 Leases transition relief and practical expedients; ● Findings from the Research on Intangible Assets; ● ASBJ’s Preliminary view on the ED – Disclosure requirements in IFRS Standards (A Pilot Approach); ● Issues in IAS 7 Statement of Cash Flows; ● Rate Regulated Accounting – International Developments and Pakistan Experience; 131 Financial Reporting Foundation 2 0 2 1 Result of Evaluation of Outcomes for 2021 (SPA 1/2012) OBJECTIVES (3) To collaborate with other national standard- setters for the development of globally accepted financial reporting standards for international use (continued).
OUTPUT PRODUCED Date Venue Brief Description ● Islamic Finance: Adoption of IFRS 17 and Takaful; ● IFRS 17 Application in Thailand; ● Corporate Tax Considerations under IFRS 17 in South Korea; ● Liquidation Basis Financial Reporting Standard; and ● Update on IFRS Application in Indonesia.

DESIRED OUTCOME PERFORMANCE INDICATOR ACTUAL PERFORMANCE Ensuring Malaysian voice be heard and to influence issues relevant to Malaysia.

Presentation / participation in international / regional meetings or forums.
Achieved high level of collaboration and enhanced international visibility.

Angus Thomson presented Mr. from IFRS 16 Leases transition relief and practical expedients’ together with the Australian Accounting Standards Board, the while Puan Nadiah ‘Islamic Finance: Adoption of IFRS 17 and Takaful’.

representative of Ismail presented ‘Lessons topic the KPI achievement (%) Achieved high level of collaboration and enhanced international visibility.
100% 2 0 2 1 Financial Reporting Foundation 132 Result of Evaluation of Outcomes for 2021 (SPA 1/2012) DESIRED OUTCOME PERFORMANCE INDICATOR ACTUAL PERFORMANCE High level of stakeholder engagement.

Engage regularly with different categories of stakeholders.

Achieved high level of engagement with stakeholders.
OBJECTIVES (4) To promote the use and seek views on the application of accounting and financial reporting standards by way of engagement and dissemination of information to users, preparers, auditors and the public.

1.
The MASB participated in the following events held by either MASB or other organisations during 2021: OUTPUT PRODUCED Outreach Activities Date Event Brief Description 17 and 18 March 2021 25 and 29 March 2021 Joint IASB-MASB Outreach on Post- implementation Review (PIR) of IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in Other Entities – via Virtual Meeting Session with SMEs preparers: Review of the IFRS for SMEs Standard – via Virtual Meeting 9 April 2021 Joint IASB-MASB Outreach on IASB Exposure Draft ED/2021/1 Regulatory Assets and Regulatory Liabilities – via Virtual Conference As a step to obtain valuable feedback from the preparers of financial statements on IASB Request for Information for Post-implementation Review of IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in Other Entities, MASB organised joint outreach sessions with IASB.
The sessions were facilitated by the IASB Board Member, Ms. Ann Tarca and IASB Technical Staff, Mr. Filippo Poli, Ms. Michelle Sansom, Mr. Zhen Xu and Ms. Wenyi Zheng; and were attended by representatives from public listed companies (PLCs).

MASB was represented by Board Member, Encik Chan Hooi Lam; Puan Tan Bee Leng, Puan Nadiah Ismail, Puan Idawaty Mohd Hasan, Puan Cathrine Su and Encik Mohd Nazi Mat Yusoff.
MASB organised two sessions between IASB staff and SMEs preparers to gather views on the comprehensive review of the IFRS for SMEs Standard, particularly on the alignment of the IFRS for SMEs Standard with IFRS Standards.

The sessions were attended by representatives from SMEs organisations and SMEs preparers; and IASB Technical Staff; Ms. Michelle Sansom and Mr. Yousouf Hansye.

MASB was represented by Puan Tan Bee Leng, Puan Nadiah Ismail, and Senior Technical Executive, Puan Maisarah Mustapa.
MASB in collaboration with the IASB organised an outreach on the Exposure Draft ED/2021/1 Regulatory Assets and Regulatory Liabilities to provide a platform for the stakeholders to share their views on the proposals.

The outreach was attended by representatives from PLCs and was facilitated by IASB Board Members, Dr. Jianqiao Lu and, Ms. Rika Suzuki; IASB Technical Staff, Mr. Raghava Tirumala, Ms. Mariela Isern, Mr. Zicheng Wang, and Mr. Shahid Umar.
MASB was represented by Board Member, Encik New Kheng Chee; Puan Tan Bee Leng, Ms. Patricia McBride, Puan Nadiah Ismail, Puan Cathrine Su and Encik Mohd Nazi Mat Yusoff.

133 Financial Reporting Foundation 2 0 2 1 Result of Evaluation of Outcomes for 2021 (SPA 1/2012) DESIRED OUTCOME PERFORMANCE INDICATOR ACTUAL PERFORMANCE High level of stakeholder engagement.

Engage regularly with different categories of stakeholders.

Achieved high level of engagement with stakeholders.
OBJECTIVES (4) To promote the use and seek views on the application of accounting and financial reporting standards by way of engagement and dissemination of information to users, preparers, auditors and the public (continued).
OUTPUT PRODUCED Date Event Brief Description 11 June 2021 26 July 2021 Engagement Session with IASB on Exposure Draft ED/2021/3 Disclosure Requirements in IFRS Standards—A Pilot Approach – via Virtual Conference Virtual Public Forum: IASB ED/2021/3 Disclosure Requirements in IFRS Standards—A Pilot Approach MASB organised an engagement session with IASB on Exposure Draft ED/2021/3 Disclosure Requirements in IFRS Standards—A Pilot Approach for the MASB working group members and other key stakeholders.
The engagement session was facilitated by IASB Technical Staff, Ms. Kathryn Donkersley.

MASB was represented by its Board Members, Dato’ Soo Chan Fai, Encik Chan Hooi Lam and Encik Lee Kong Weng.

Also in attendance were Puan Tan Bee Leng, and the MASB technical team.

MASB organised a virtual public forum to provide an overview of IASB Exposure Draft ED/2021/3 Disclosure Requirements in IFRS Standards—A Pilot Approach and to gather views on the proposals.
The public forum was facilitated by Encik Danny Tan Boon Wooi, Project Manager for MASB Working Group 70 Disclosure Initiative.

– via Virtual Conference forum was attended by 85 participants, comprising academia, The practitioners, preparers, professional body and regulators.
27 July 2021 IASB-CASC-MASB Virtual Outreach on Request for Information: Third Agenda Consultation In collaboration with the IASB, MASB and the China Accounting Standards Committee (CASC) jointly organised an outreach session to provide an overview of the Request for Information: Third Agenda Consultation and gather views from participants on what the IASB’s priorities should be over the next five years.
– via Virtual Conference The outreach session was facilitated by Dr. Jianqiao Lu; IASB Technical Director, Ms. Nili Shah; and IASB Technical Staff, Mr. Rafal Markowski.

The session was attended by 58 participants from eight jurisdictions, namely, Australia, China, Hong Kong, India, Malaysia, Singapore, South Korea and Sri Lanka.
2 0 2 1 Financial Reporting Foundation 134 Result of Evaluation of Outcomes for 2021 (SPA 1/2012) DESIRED OUTCOME PERFORMANCE INDICATOR ACTUAL PERFORMANCE High level of stakeholder engagement.

Engage regularly with different categories of stakeholders.

Achieved high level of engagement with stakeholders.
OBJECTIVES (4) To promote the use and seek views on the application of accounting and financial reporting standards by way of engagement and dissemination of information to users, preparers, auditors and the public (continued).
OUTPUT PRODUCED Date Event Brief Description 21 October 2021 IASB-ICAI-MASB Virtual Outreach on IASB Exposure Draft ED/2021/7 Subsidiaries without Public Accountability: Disclosures – via Virtual Conference MASB in collaboration with the IASB and The Institute of Chartered Accountants of India (ICAI) jointly organised an outreach session on IASB Exposure Draft ED/2021/7 Subsidiaries without Public Accountability: Disclosures.
The virtual outreach provided an overview of the Exposure Draft which sets out proposals for a new IFRS Standard that permits eligible subsidiaries to apply reduced disclosure requirements with the recognition, measurement and presentation requirements in the IFRS Standards.

The virtual outreach was facilitated by Ms. Ann Tarca and Ms. Rika Suzuki; and attended by IASB Technical Staff, Mr. Jan Carlo Perera and Cik Hazirah Hasni.
The session was attended by 54 participants from 12 countries comprising academia, standard-setters, practitioners, preparers and regulators.

Sessions with Academia/Students During the year, MASB conducted two sessions to brief students of local universities on MASB’s roles and responsibilities as the national accounting standard-setter as well as on the financial reporting frameworks in Malaysia.
In total, 215 students attended the briefing sessions, as detailed below: Date Virtual Event Brief Description 23 October 2021 Universiti Malaysia Terengganu (UMT) The briefing was conducted by Puan Nadiah Ismail and Cik Fara Naziha Mat Khamal.

It was attended by 150 students.

15 December 2021 Universiti Teknologi MARA (UiTM) The briefing was conducted by Puan Maisarah Mustapa.

It was attended by 65 students.


135 Financial Reporting Foundation 2 0 2 1 Result of Evaluation of Outcomes for 2021 (SPA 1/2012) OBJECTIVES (4) To promote the use and seek views on the application of accounting and financial reporting standards by way of engagement and dissemination of information to users, preparers, auditors and the public (continued).
OUTPUT PRODUCED DESIRED OUTCOME PERFORMANCE INDICATOR ACTUAL PERFORMANCE In addition, MASB was involved in two virtual sessions to provide students and lecturers with a platform to better understand the roles and responsibilities of the MFRS Application and Implementation Committee (MAIC) in the financial reporting ecosystem as well as its due process.

High level of stakeholder engagement.

Engage regularly with different categories of stakeholders.

Achieved high level of engagement with stakeholders.
In total, 305 students attended the briefing sessions, as detailed below: Date Virtual Event Brief Description 16 June 2021 Politeknik Ungku Omar This session was organised by The Malaysian Institute of Certified Public Accountants (MICPA) and was presented by Project Director (MFRS Implementation Activities) Encik Foo Yoke Pin.

It was attended by 217 students.

18 December 2021 Universiti Sains Malaysia (USM) The briefing was conducted by Encik Foo Yoke Pin.
It was attended by five lecturers and 88 students.

Speaking Engagement Date Event Brief Description 20 April 2021 BNM-FIDE FORUM-MASB Dialogue on MFRS 17 Insurance Contracts – via Virtual Conference 5 July 2021 ASEAN Federation of Accountants (AFA) – IASB Third Agenda Consultation – via Webinar FIDE FORUM organised a dialogue session for directors of banks on ‘MFRS 17 Insurance Contracts: What Every Director Must Know’.
The session was presented by Mr. Darrel Scott, Chair of MASB MFRS 17 Implementation Task Force and former IASB Board Member; and was attended by 170 directors.

AFA organised a webinar to facilitate a discussion between the ASEAN stakeholders and the IASB as part of its Third Agenda Consultation.

Ms. Rika Suzuki and IASB Technical Staff, Ms. Rachel Knubley and Mr. Rafal Markowski, presented the IASB’s consultation for its 2022-2026 activities and work plan.
The webinar was attended by 200 participants from 16 countries.

MASB was represented by Puan Tan Bee Leng as one of the panelists.

27 October 2021 Islamic Finance Conference 2021 – via Virtual Conference MASB Secretariat was invited to be one of the speakers at the Islamic Finance Conference 2021 themed ‘Islamic Finance: Latest Developments and Drivers for Growth in a Post-Pandemic World’, organised by the Malaysian Institute of Accountants (MIA).
MASB was represented by Puan Nadiah Ismail, who presented ‘Updates of Financial Reporting on Islamic Financial Transactions’.

2 0 2 1 Financial Reporting Foundation 136 Result of Evaluation of Outcomes for 2021 (SPA 1/2012) DESIRED OUTCOME PERFORMANCE INDICATOR ACTUAL PERFORMANCE High level of stakeholder engagement.

Engage regularly with different categories of stakeholders.

Achieved high level of engagement with stakeholders.
OBJECTIVES (4) To promote the use and seek views on the application of accounting and financial reporting standards by way of engagement and dissemination of information to users, preparers, auditors and the public (continued).

OUTPUT PRODUCED Date Event Brief Description The MASB Secretariat was invited to speak at the SAFA Accounting Standards Forum 2021 themed ‘Challenges in Financial Reporting and the Way Forward’, hosted by CA Sri Lanka.
Mr. Angus Thomson and Puan Nadiah Ismail presented the topic, ‘Islamic Finance to IFRS 9 and IFRS 17’.

The Forum was attended by 150 participants.

8 December 2021 South Asian Federation of Accountants (SAFA) Accounting Standards Forum 2021 – via Virtual Conference Technical Articles During the year, three articles were published by MASB.
Details of the articles are as follows: Date Title Published on 18 June 2021 18 June 2021 3 November 2021 Climate Related Financial Disclosure (CRFD) – coming ready or not?

MASB website Understanding the assumptions used in determining the expected future cash flows for impairment testing oil palm plantations MASB website What keeps your auditor awake at night?
MASB website KPI achievement (%) Achieved high level of engagement with stakeholders: Held thirteen public forums [Target: four] Held four sessions with academia/students [Target: two] Published three technical articles [Target: four] Overall KPI (%) 100% 100% 75% 91.67% 137 Financial Reporting Foundation 2 0 2 1 Result of Evaluation of Outcomes for 2021 (SPA 1/2012) OBJECTIVES (5) To promote and support research in the area of financial reporting, in particular for the emerging and Islamic markets.
OUTPUT PRODUCED DESIRED OUTCOME PERFORMANCE INDICATOR ACTUAL PERFORMANCE International visibility in niche area achieved.

Presentation / participation in international / regional meetings, forums or conferences in the area of Islamic finance.

(a) MASB as the Lead Country for AOSSG Working Group on Financial Reporting relating to Islamic Finance to comment on IASB draft pronouncements from the Islamic perspective.

Achieving international visibility in niche area.


● No comment letter was submitted to the IASB However, MASB presented the topic, ‘Islamic Finance: Adoption of IFRS 17 and Takaful’ at the 13th Annual Meeting of AOSSG.

Details of the meeting can be found in Objective (3) of this Report.

(b) To participate in IASB Islamic Finance Consultative Group (IFCG) so as to put across the Malaysian views.

The IFCG meeting was held virtually on 30 November 2021 and MASB was represented by Datuk Mohd Nasir Ahmad.
Details of the meeting can be found in Objective (3) of this Report.
(c) Others: Islamic technical pronouncement During the year, one Issues Bulletin was issued on application of MFRS 17 Insurance Contracts to Takaful, detailed as follows: Title Brief Description Issues Bulletin 3 Reporting Qard in the Takaful Fund Column within Takaful Entity Financial Statements In February 2021, [draft] Issues Bulletin 3 Reporting Qard in the Takaful Fund Column within Takaful Entity Financial Statements was issued with targeted exposure, specifically to the Malaysian Takaful Association for feedback.
In June 2021, Issues Bulletin 3 Reporting Qard in the Takaful Fund Column within Takaful Entity Financial Statements was issued.

Details of Issues Bulletin 3 can be found in the Technical Work in 2021 section of this Annual Report.
KPI achievement (%) International visibility in niche area achieved (a) MASB as the Lead Country of AOSSG WG on Financial Reporting to Islamic Finance (b) Participation in IASB IFCG (c) Others: Islamic technical pronouncements Overall KPI (%) 0% 100% 100% 66.67% Note: For item 5(a), the 0% scoring was because there was no IASB draft pronouncements that require specific comments from an Islamic financial reporting perspective.
2 0 2 1 Financial Reporting Foundation 138 Result of Evaluation of Outcomes for 2021 (SPA 1/2012) OBJECTIVES (6) To monitor the application of the MASB approved accounting standards.

MFRS Application and Implementation Committee (MAIC) OUTPUT PRODUCED With effect from 28 January 2019, MASB set up the MAIC to look into implementation issues relating to MFRS Standards.
A summary of issues considered is listed below: Issue Status DESIRED OUTCOME PERFORMANCE INDICATOR ACTUAL PERFORMANCE Resolving market uncertainty on accounting issues that significantly affect the capital market.

Issuance of educational material; technical articles, MFRS Application and Implementation Guide (MAIG) or Q&As.

Three of the five issues considered were completed.

Work is ongoing on the remaining two issues which are within the KPI turnaround time of within a year.

1.
1.

Accounting treatment for monies received from investors and paid to trustee for purchase of units or received from trustee and paid to investors for redemption of units of unit trust fund (“collection account”) Issue considered and closed (Refer to Note 1) 2.
Preparation of consolidated financial statement for a group which had disposed of its only subsidiary during the year MASB ED 78 Preparation of consolidated financial statements for a group which had disposed of its only subsidiary during the financial year was exposed for public comment in February 2021.

Issue completed with publication of MAIG 3 Preparation of consolidated financial statements for a group which had disposed of its only subsidiary during the financial year in May 2021.

3.
3.

Classification of consumers’ security deposits as Issue considered and closed (Refer to Note 2) current liability or non-current liability 4.

Appropriate exchange rate used the computation of dividends declared during the year where the company’s presentation currency is Ringgit Malaysia, but its functional currency is other than Ringgit Malaysia for Still under consideration 5.
Computation of percentage of completion using input method at holding company level and group level Still under consideration Note: 1.

The MASB Board agreed to close the issue as the issue is not widespread and more importantly, the accounting treatment will be determined by the fact patterns in question.

2.

The issue was recommended to be closed with no further guidance required.
Paragraphs 15, 19 and 69 of MFRS 101 Presentation of Financial Statements are clear in guiding the preparers in the classification of consumers’ security deposits as current liability or non-current liability.

139 Financial Reporting Foundation 2 0 2 1 Result of Evaluation of Outcomes for 2021 (SPA 1/2012) OBJECTIVES (6) To monitor the application of the MASB approved accounting standards (continued).
OUTPUT PRODUCED DESIRED OUTCOME PERFORMANCE INDICATOR ACTUAL PERFORMANCE Three of the five issues considered were completed.

Work is ongoing on the remaining two issues which are within the KPI turnaround time of within a year.

In addition to MAIC, specialised task force affecting the industry will be set up to serve as a platform for key stakeholders to discuss issues-specific or implementation of specific MFRS Standards.

These task forces are expected to be temporary in nature.
Meeting Summaries and if required, other educational materials for example Guidance Note, are distributed to the Task Force for useful reference to improve consistency of application of the specific MFRS Standards.

Resolving market uncertainty on accounting issues that significantly affect the capital market.

Issuance of educational material; technical articles, MAIG or Q&As.
MFRS 9 Financial Instruments Task Force on COVID-19 Relief Measures (TFC-19) In July 2020, a specialised task force, the MFRS 9 Task Force on COVID-19 Relief Measures (TFC-19), was set up to serve as a platform for stakeholders to discuss the application of MFRS 9 following the relief measures implemented by BNM as a result of the pandemic.
TFC-19 discussed and concluded on issues relating to application and implementation of MFRS 9 affected by the relief measures so as to improve consistency of MFRS 9 application by financial institutions.

During the year, TFC-19 held five meetings.
Since its setting up until to date, TFC-19 has issued the following Guidance Notes: Guidance Notes 1 2 3 Post-moratorium Rescheduling and Restructring (R&R) as at 1 October 2020 for viable customers – Information update, assessment and staging effects – For retail portfolio Post-moratorium R&R as at 1 October 2020 for viable customers – Information update, assessment and staging effects – For SME portfolio COVID-19 specific disclosures – For annual financial statements ending on or after 31 December 2020 Date: 28 January 2021 (Original) Date: 10 February 2021 (Revised version) MFRS 17 Insurance Contracts Implementation Task Force (MFRS 17-Task Force) On 1 January 2021, the Implementation Task Force on MFRS 17 (MFRS 17-Task Force) was set up with a view to facilitate implementation and consistent application of MFRS 17 during this transitional period from MFRS 4 Insurance Contracts to MFRS 17.
The MFRS 17-Task Force discusses local implementation issues and provides recommendation to the MASB on the issuance or otherwise, of any forms of technical pronouncement.

The Task Force is expected to be temporary in nature with a lifespan of two years, i.e., from January 2021 up to the end of 2022.
For the year 2021, the MFRS 17-Task Force held five meetings and concluded on the following issues whereby the Meeting Summaries were distributed for useful reference to improve consistency of application by the insurance (and takaful) industry: Issues 1 2 3 4 Cash Flows: Interaction between MFRS 17 and other MFRSs Contract modification: The exercise of a right included in the terms of a contract Treatment of reinsurance cash flows for participating contracts Wakalah fee expense – Acquisition or maintenance expense from the Takaful Fund perspective 2 0 2 1 Financial Reporting Foundation 140 Result of Evaluation of Outcomes for 2021 (SPA 1/2012) OBJECTIVES (6) To monitor the application of the MASB approved accounting standards (continued).
OUTPUT PRODUCED DESIRED OUTCOME PERFORMANCE INDICATOR ACTUAL PERFORMANCE Resolving market uncertainty on accounting issues that significantly affect the capital market.

Issuance of educational material; technical articles, MAIG or Q&As.

Three of the five issues considered were completed.

Work is ongoing on the remaining two issues which are within the KPI turnaround time of within a year.
Issues Application of risk adjustment for liability for remaining coverage (LFRC) for takaful contracts Treatment of unallocated surplus – as either liability for incurred claims (LFIC) or LFRC Contract boundary issue for insurers that have a unilateral right to cancel policy Investment component for participating product – determining non-distinct investment component Application of mutualisation for participating products in accordance with IFRS 17.B67-B68 Application of IFRS 17.B128(c) for participating products for the difference between the expected asset share balance and actual asset share balance Treatment of orphan estate in relation to IFRS 17.B71 Treatment of orphan estate as LFIC or LFRC Reinsurance cash flows and contractual service margin (CSM) in participating products Treatment of bancassurance upfront payments – is it an IFRS 17 acquisition cash flow?
Application of MFRS 17.B128(c) for takaful – presentation of non-investment component experience in Takaful Fund Recognition of insurance acquisition cash flows as expenses under MFRS 17.59(a) Premium allocation approach optionality in MFRS 17.59(a) to expense or defer acquisition cash flows for transition calculation purposes Calculation of the Loss Recovery Component for losses-occurring reinsurance contracts held (application of MFRS 17.66A in conjunction with MFRS 17.B119C) Coverage units determination for annuities contracts Risk mitigation mechanics for loss component Loss component Accounting for variances (assumptions / experience) related to investment component on direct participating policies applying variable fee approach (VFA) Treatment of finance cost under lease accounting 141 Financial Reporting Foundation 2 0 2 1 Result of Evaluation of Outcomes for 2021 (SPA 1/2012) KPI achievement (%) Resolving market uncertainty on accounting issues that significantly affect the capital market.
1.

2.

Accounting treatment for monies received from investors and paid to trustee for purchase of units or received from trustee and paid to investors for redemption of units of unit trust fund (“collection account”) Preparation of consolidated financial statement for a group which had disposed of its only subsidiary during the year 3.

Classification of consumers’ security deposits as current liability or non-current liability 4.
Appropriate exchange rate used for the computation of dividends declared during the year where the company’s presentation currency is Ringgit Malaysia, but its functional currency is other than Ringgit Malaysia 5.
Computation of percentage of completion using input method at holding company level and group level Overall KPI (%) TOTAL OVERALL KPI (%) 100% 100% 100% 50% 50% 80.00% 96.50% 2 0 2 1 Financial Reporting Foundation 142 Result of Evaluation of Outcomes for 2021 (SPA 1/2012) This page is intentionally left blank 143 Financial Reporting Foundation 2 0 2 1 Result of Evaluation of Outcomes for 2021 (SPA 1/2012) FINANCIAL STATEMENTS Financial Reporting Foundation 2 0 2 1 Financial Reporting Foundation 144 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2021 Non-current assets Tangible assets Right-of-use assets Current assets Inventories Other receivables, deposits and prepayments Deposits with financial institutions Cash and bank balances Total assets Equity Capital grants Accumulated deficit Current liabilities Lease liabilities Other payables and accruals Non-current liabilities Lease liabilities Provision Total liabilities Note 2021 RM 2020 RM 147,077 333,809 480,886 214,339 507,682 722,021 97 104,702 989 92,106 17,509,476 13,222,278 304,112 17,918,387 18,399,273 103,946 13,419,319 14,141,340 9 48,000,000 45,000,000 (32,000,425) (32,096,259) 15,999,575 12,903,741 10 11 10 11 192,971 1,939,854 2,132,825 178,873 88,000 266,873 171,595 621,161 792,756 371,843 73,000 444,843 2,399,698 1,237,599 Total equity and liabilities 18,399,273 14,141,340 The annexed notes form an integral part of the financial statements.
145 Financial Reporting Foundation 2 0 2 1 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 Revenue Other income Note 12 13 2021 RM 2020 RM 19,380 22,604 4,048,884 3,054,251 Standard-setting and related activities expenses (3,232,192) (3,209,291) Publication and related services expenses (156,835) (124,639) Other expenses Surplus/(Deficit) before tax Taxation Surplus/(Deficit)/Total comprehensive income/ (expense) for the financial year 14 15 (583,403) (617,853) 95,834 (874,928) - - 95,834 (874,928) The annexed notes form an integral part of the financial statements.
2 0 2 1 Financial Reporting Foundation 146 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) STATEMENT OF CHANGES IN EQUITY FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 Capital Accumulated grants RM deficit RM Total RM Note At 1 January 2020 42,000,000 (31,221,331) 10,778,669 Capital grant 9 3,000,000 - 3,000,000 Deficit/Total comprehensive expense for the financial year - (874,928) (874,928) At 31 December 2020/1 January 2021 45,000,000 (32,096,259) 12,903,741 Capital grant 9 3,000,000 - 3,000,000 Surplus/Total comprehensive income for the financial year - 95,834 95,834 At 31 December 2021 48,000,000 (32,000,425) 15,999,575 The annexed notes form an integral part of the financial statements.
147 Financial Reporting Foundation 2 0 2 1 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) STATEMENT OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 CASH FLOWS FROM OPERATING ACTIVITIES Payment for - audit fee - administrative expenses - members’ honorarium - personnel expenses - maintenance of premises - printing of technical pronouncements - general printing and stationery 2021 RM 2020 RM (28,000) (571,080) (14,600) (28,000) (519,628) (5,200) (2,575,220) (2,518,443) (5,279) (10,440) (83,041) (13,666) (5,064) (71,558) - IFRS Foundation’s shared costs (Note 14) (368,992) (358,677) Sundry deposits Receipts from sale of technical pronouncements Other income and receipts Receipts – grant related to income Net cash inflows/(outflows) from operating activities - 19,380 2,025 5,000,000 1,364,753 4,370 30,929 26,329 2,500,000 (958,608) CASH FLOWS FROM INVESTING ACTIVITIES Finance income from fixed deposits Placement of deposits with financial institutions Purchase of tangible assets Proceeds from disposal of tangible assets Net cash outflows from investing activities CASH FLOWS FROM FINANCING ACTIVITIES Receipts – capital grant Payments of lease liabilities (Note 10) Net cash inflows from financing activities NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS BROUGHT FORWARD CASH AND CASH EQUIVALENTS CARRIED FORWARD (Note A) 334,043 432,755 (4,194,018) (2,619,856) (51,978) 3,400 (32,823) - (3,908,553) (2,219,924) 3,000,000 (196,590) 2,803,410 3,000,000 (205,952) 2,794,048 259,610 (384,484) 760,417 1,144,901 1,020,027 760,417 The annexed notes form an integral part of the financial statements.
2 0 2 1 Financial Reporting Foundation 148 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) STATEMENT OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 (CONTINUED) Note to statement of cash flows A.
Cash and cash equivalents at the end of the financial year comprise: Deposits with financial institutions (Note 8) Cash and bank balances 2021 RM 2020 RM 715,915 304,112 1,020,027 656,471 103,946 760,417 The annexed notes form an integral part of the financial statements.

149 Financial Reporting Foundation 2 0 2 1 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) NOTES TO THE FINANCIAL STATEMENTS – 31 DECEMBER 2021 1.
GENERAL INFORMATION The functions and powers of the Financial Reporting Foundation (FRF or Foundation) as provided under the Financial Reporting Act 1997 are: (a) (b) to oversee the carrying out of the functions of the Malaysian Accounting Standards Board (MASB or Board) under the Financial Reporting Act 1997; and to perform any other function as the Minister of Finance may prescribe by order published in the Gazette.
Under the Financial Reporting Act 1997, a body by the name of the MASB was established as the standard-setting body of the Foundation, whose functions shall be the determination and issuance of accounting standards for the preparation of financial statements, which are required to be prepared or lodged under any law administered by the Securities Commission Malaysia, Bank Negara Malaysia or the Registrar of Companies.
Without limiting the generality of functions of the Foundation stated above, the Foundation shall be responsible: (a) to provide its view to the Board on any matter which the Board seeks to undertake or implement in relation to the Board’s function under the Financial Reporting Act 1997; (b) to review the performance of the Board; and (c) for all financing arrangements for the operations of the Board, including approving the budget of the Board.
The Foundation shall not direct the Board to undertake or omit to undertake any particular project or activity or otherwise affect the exercise of the Board’s power or the performance of the Board’s function under the Financial Reporting Act 1997.

The principal place of business is situated at: Unit 13A-1, Menara MBMR No.

1, Jalan Syed Putra 58000 Kuala Lumpur The financial statements are prepared in Ringgit Malaysia, which is the functional currency and presentation currency.
2 0 2 1 Financial Reporting Foundation 150 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) NOTES TO THE FINANCIAL STATEMENTS – 31 DECEMBER 2021 2.
SIGNIFICANT ACCOUNTING POLICIES (a) Basis of preparation The financial statements of the Foundation have been prepared under the historical cost convention (unless otherwise stated in the financial statements) in accordance with applicable approved Malaysian Financial Reporting Standards (MFRSs) issued by the MASB, International Financial Reporting Standards and the provisions of the Financial Reporting Act 1997 in Malaysia.
(b) Tangible assets Tangible assets are stated at cost less accumulated depreciation and any accumulated impairment losses.

All tangible assets are depreciated on a straight-line basis at rates calculated to write-off the cost of the assets over their estimated useful lives.

Subsequent costs are recognised in the asset’s carrying amount when it is probable that the future economic benefits associated with the item will flow to the Foundation and the cost of the item can be measured reliably.
Repairs and maintenance of the tangible assets are recognised in the profit or loss as incurred.

The residual values, useful lives and depreciation method are reassessed at each financial year end.

The principal annual rates of depreciation used for the Foundation’s tangible assets are as follows: Furniture and fittings Computers Motor vehicle Office equipment 20% 33.33% 20% 20% Gains or losses on disposals are determined by comparing proceeds with carrying amounts and are included in the profit or loss.
(c) Inventories Inventories are stated at the lower of cost and net realisable value.

Cost is determined on the weighted average basis and comprises the original cost of purchase plus cost of bringing the inventories to their present location and condition.

Net realisable value is determined on an item-by-item basis or on a group of similar items basis.

(d) Leases (i) Definition of a lease Contracts may contain both lease and non-lease components.
At inception, the Foundation allocates the consideration in the contract to each lease and non-lease component on the basis of their relative stand-alone prices.

As a practical expedient, the Foundation has elected not to separate non-lease components from the lease component of its lease of office equipment, and instead account for the lease as a single lease component.
(ii) Initial recognition and measurement The Foundation recognises a right-of-use asset and a lease liability at the lease commencement date.

The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before 151 Financial Reporting Foundation 2 0 2 1 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) NOTES TO THE FINANCIAL STATEMENTS – 31 DECEMBER 2021 2.
SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (d) Leases (continued) (ii) Initial recognition and measurement (continued) the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located, less any lease incentives received.
The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Foundation’s incremental borrowing rate.
Generally, the Foundation uses its incremental borrowing rate as the discount rate, that is the rate that the Foundation would have to pay to borrow the funds necessary to obtain an asset of similar value to the right-of-use asset in a similar economic environment with similar term, security and conditions.
Where relevant, lease payments included in the measurement of the lease liability comprise the following: ● fixed payments, including in-substance fixed payments less any incentive receivable; ● variable lease payments that depend on an index or a rate, initially measured using the index or rate at the commencement date; ● amounts expected to be payable under a residual value guarantee; ● the exercise price of a purchase option that the Foundation is reasonably certain to exercise; and ● penalties for early termination of the lease unless the Foundation is reasonably certain not to terminate early.
(iii) Subsequent measurement The right-of-use asset is subsequently depreciated using the straight-line method over the shorter of the asset’s useful life and the lease term.

The estimated useful life of the right-of-use asset is determined on the same basis as those of property and equipment.

In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability.
The lease liability is measured at amortised cost using the effective interest method.

It is remeasured when there is a change in future lease payments arising from a change in an index or rate, if there is a revision of in-substance fixed lease payments, or if there is a change in the Foundation’s estimate of the amount expected to be payable under a residual value guarantee, or if the Foundation changes its assessment of whether it will exercise a purchase, extension or termination option.
When the lease liability is remeasured, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.

2 0 2 1 Financial Reporting Foundation 152 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) NOTES TO THE FINANCIAL STATEMENTS – 31 DECEMBER 2021 2.
SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (e) Financial instruments (i) Initial recognition and measurement Financial instruments are recognised in the financial statements when, and only when, the Foundation becomes a party to the contractual provisions of the instruments.

On initial recognition, all financial assets and financial liabilities are measured at fair value plus transaction costs if the financial asset or financial liability is not measured at fair value through profit or loss.
For instruments measured at fair value through profit or loss, transaction costs are expensed to profit or loss when incurred.

(ii) Derecognition of financial instruments For derecognition purposes, the Foundation first determines whether a financial asset or a financial liability should be derecognised in its entirety as a single item or derecognised part-by-part of a single item or of a group of similar items.
A financial asset, whether as a single item or as a part, is derecognised when, and only when, the contractual rights to receive the cash flows from the financial asset expire, or when the Foundation transfers the contractual rights to receive cash flows of the financial asset, including circumstances when the Foundation acts only as a collecting agent of the transferee, and retains no significant risks and rewards of ownership of the financial asset or has no continuing involvement in the financial asset transferred.
A financial liability is derecognised when, and only when, it is legally extinguished, which is either when the obligation specified in the contract is discharged or cancelled or expired.

(iii) Financial assets After initial recognition, financial assets are categorised as financial asset at amortised cost.
A financial asset is measured at amortised cost when: (a) it is held within the Foundation’s business objective to hold the asset only to collect contractual cash flows, and (b) the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

The financial assets are subject to review for impairment in accordance with Note 2(f).
(iv) Financial liabilities After initial recognition, the financial liabilities are measured at amortised cost using the effective interest method.

(v) Recognition of gains and losses For financial assets and financial liabilities carried at amortised cost, interest income and interest expense are recognised in profit or loss using the effective interest method.
A gain or loss is recognised in profit or loss only when the financial asset or financial liability is derecognised or impaired, and through the amortisation process of the instrument.

(f) Impairment of financial assets The Foundation applies the expected credit losses (ECL) model of MFRS 9 Financial Instruments to recognise impairment losses of financial assets measured at amortised cost.
153 Financial Reporting Foundation 2 0 2 1 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) NOTES TO THE FINANCIAL STATEMENTS – 31 DECEMBER 2021 2.

SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (f) Impairment of financial assets (continued) Except for trade receivables, 12-month ECL are recognised in profit or loss on the date of origination or purchase of the financial assets.
At the end of each reporting period, the Foundation assesses whether there has been a significant increase in credit risk of a financial asset since its initial recognition or at the end of the prior period.

Other than for financial assets which are considered to be of low risk grade, lifetime ECL are recognised if there has been a significant increase in credit risk since initial recognition.
The assessment of whether credit risk has increased significantly is based on quantitative and qualitative information that includes financial evaluation of the creditworthiness of the debtors or issuers of the instruments, ageing of receivables, defaults and past due amounts, past experiences with the debtors, current conditions and reasonable forecast of future economic conditions.
For operational simplifications: (a) 12-month ECL are maintained for financial assets which have investment grades that are considered as low credit risk, irrespective of whether credit risk has increased significantly or not; and (b) credit risk is considered to have increased significantly if payments are more than 30 days past due if no other borrower-specific information is available without undue cost or effort.
The ECL are measured using an unbiased and probability-weighted amount that is determined by evaluating a range of possible outcomes, discounted for the time value of money and applying reasonable and supportable information that is available without undue cost or effort at the reporting date about past events, current conditions, and forecast of future economic conditions.
When a financial asset is determined as credit-impaired (based on objective evidence of impairment), the lifetime ECL are determined individually.

For trade receivables, the Foundation has availed the exception to the 12-month ECL requirement to recognise only lifetime ECL.

The lifetime ECL are determined at the end of each reporting period using a provision matrix.
(g) Grants Capital grants Capital grants are grants that are awarded unconditionally to the Foundation and such grants are presented as a separate equity component in the statement of financial position.

Grants related to income Grants related to income are recognised when there is a reasonable assurance that the grants will be received and the Foundation will comply with all the conditions attached to the grants.
Such grants are recognised as other income in profit or loss on a systematic basis over the period when the related expenses are incurred.

Any balance not yet recognised in profit or loss is recognised as deferred income in the statement of financial position.
(h) Provisions Provisions are recognised when the Foundation has a present obligation (legal or constructive) where, as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation.

2 0 2 1 Financial Reporting Foundation 154 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) NOTES TO THE FINANCIAL STATEMENTS – 31 DECEMBER 2021 2.
SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (h) Provisions (continued) Provisions are reviewed at each reporting date and adjusted to reflect the current best estimate.

If it is no longer probable that an outflow of resources embodying economic benefits will be required to settle the obligation, the provision is reversed.
(i) Revenue from contracts with customers Revenue represents the sale of technical pronouncements and is recognised at a point in time when control of the goods is transferred to the customer.

The Foundation measures revenue from a sale of goods at the fair value of the consideration received or receivable, which is usually the invoice price, net of trade discounts and volume rebates given to the customer.
(j) Other income Other income is recognised in the financial statements of the Foundation on an accrual basis.

(k) Presentation of expenses For the purposes of organising the financial information, the Foundation has categorised the expenses into two categories.

Standard-setting and related activities include all activities associated with standard-setting and support functions required to achieve the Foundation’s objectives.
Publications and related services include the print version of MASB final and draft technical pronouncements and royalty fee.

(l) Taxation Taxation on the profit or loss for the financial year comprises current and deferred tax.

Current tax is the expected amount of income taxes payable in respect of the taxable profit for the financial year and is measured using the tax rates that have been enacted at the reporting date.
Deferred tax is provided for, using the liability method, on temporary differences at the reporting date between the tax bases of assets and liabilities and their carrying amounts in the financial statements.
In principle, deferred tax liabilities are recognised for all taxable temporary differences and deferred tax assets are recognised for all deductible temporary differences, unused tax losses and unused tax credits to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, unused tax losses and unused tax credits can be utilised.
Deferred tax is measured at the tax rates that are expected to apply in the financial year when the asset is realised or the liability is settled, based on tax rates that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in the profit or loss, except when it arises from a transaction which is recognised directly in equity, in which case the deferred tax is also charged or credited directly in equity.
(m) Cash and cash equivalents For the purpose of presentation in the statement of cash flows, cash and cash equivalents include cash and bank balances and deposits which have a short maturity (three months or less) that are readily convertible to cash and are subject to insignificant risk of changes in value.

155 Financial Reporting Foundation 2 0 2 1 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) NOTES TO THE FINANCIAL STATEMENTS – 31 DECEMBER 2021 2.
SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (n) Impairment of non-financial assets The Foundation assesses at each reporting date whether there is an indication that an asset may be impaired.

If any such indication exists, or when an annual impairment assessment for an asset is required, the Foundation makes an estimate of the asset’s recoverable amount.

The recoverable amount is the higher of an asset’s fair value less costs of disposal and value in use.
The fair value less costs of disposal is the amount obtainable from the sale of an asset in an arm’s length transaction.

Value in use is the present value of estimated future cash flows expected to arise from the continuing use of an asset and from its disposal at the end of its useful life.

Recoverable amounts are estimated for individual assets.

An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amounts.
An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortisation, if no impairment loss has been recognised.

(o) Employee benefits (i) Short-term benefits Wages, salaries, bonuses and social security contributions are recognised as expenses in the financial year in which the associated services are rendered by employees of the Foundation.
Short-term accumulating compensated absences such as paid annual leave are recognised when services are rendered by employees that increase their entitlement to future compensated absences, and short-term non-accumulating compensated absences such as sick leave are recognised when the absences occur.

(ii) Defined contribution plans As required by law, employers and employees in Malaysia make contributions to the Employees Provident Fund (EPF).

Such contributions are recognised as an expense.


(p) Significant accounting estimates and judgements (i) Measurement of lease liabilities and right-of-use assets The measurement of a lease liability and the corresponding right-of-use asset includes, where relevant, in-substance fixed payments, estimates of lease term, options to purchase, payments under residual value guarantee and penalties for early termination.

The actual payments may not coincide with these estimates.
The Foundation reassesses the lease liability for any change in the estimates and a corresponding adjustment is made to the right-of-use asset.

2 0 2 1 Financial Reporting Foundation 156 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) NOTES TO THE FINANCIAL STATEMENTS – 31 DECEMBER 2021 3.
ADOPTION OF MFRSs, AMENDMENTS TO MFRSs AND INTERPRETATIONS 3.1 Amendments to MFRSs adopted For the preparation of the financial statements, the following amendments to MFRSs issued by the MASB are mandatory for the first time for the financial year beginning on or after 1 January 2021: ● Amendments to MFRS 9 Financial Instruments, MFRS 139 Financial Instruments: Recognition and Measurement, MFRS 7 Financial Instruments: Disclosure, MFRS 4 Insurance Contracts and MFRS 16 Leases – Interest Rate Benchmark Reform—Phase 2 The adoption of the above-mentioned amendments to MFRSs has no significant impact on the financial statements of the Foundation.
3.2 Amendments to MFRSs not yet effective The following are amendments to MFRSs that have been issued by the MASB up to the date of the issuance of the Foundation's financial statements but have not been adopted by the Foundation: Amendments to MFRSs effective for annual periods beginning on or after 1 January 2022 ● Amendments to MFRS 3 Business Combinations – Reference to the Conceptual Framework ● Amendments to MFRS 116 Property, Plant and Equipment − Proceeds before Intended Use ● Amendments to MFRS 137 Provisions, Contingent Liabilities and Contingent Assets – Onerous Contracts—Cost of Fulfilling a Contract ● Annual Improvements to MFRS Standards 2018-2020 Amendments to MFRSs effective for annual periods beginning on or after 1 January 2023 ● Amendments to MFRS 101 Presentation of Financial Statements – Classification of Liabilities as Current or Non-current ● Amendments to MFRS 101 Presentation of Financial Statements – Disclosure of Accounting Policies ● Amendments to MFRS 108 Accounting Policies, Changes in Accounting Estimates and Errors – Definition of Accounting Estimates ● Amendments to MFRS 112 Income Taxes – Deferred Tax related to Assets and Liabilities arising from a Single Transaction Amendments to MFRSs effective for annual periods beginning on or after a date yet to be confirmed ● Amendments to MFRS 10 Consolidated Financial Statements and MFRS 128 Investments in Associates and Joint Ventures – Sale or Contribution of Assets between an Investor and its Associate or Joint Venture The Foundation Members anticipate that the above-mentioned amendments will be adopted by the Foundation when they become effective.
157 Financial Reporting Foundation 2 0 2 1 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) NOTES TO THE FINANCIAL STATEMENTS – 31 DECEMBER 2021 3.
ADOPTION OF MFRSs, AMENDMENTS TO MFRSs AND INTERPRETATIONS (CONTINUED) 3.3 MFRS and Amendments to MFRSs not adopted ● MFRS 17 Insurance Contracts, Amendments to MFRS 17 Insurance Contracts and Amendment to MFRS 17 Insurance Contracts – Initial Application of MFRS 17 and MFRS 9 Financial Instruments—Comparative Information are not expected to be applicable to the Foundation.
● Amendment to MFRS 16 Leases – Covid-19-Related Rent Concessions is not adopted because the changes to the lease of the Foundation do not meet the conditions specified in the Amendment to qualify for practical expedient for a rent concession.

● Amendment to MFRS 16 Leases – Covid-19-Related Rent Concessions beyond 30 June 2021 is not applicable to the Foundation.

4.
TANGIBLE ASSETS 2021 Cost At 1 January Additions Written off Furniture and fittings Computers Motor vehicle Office equipment RM RM RM RM Total RM 634,120 16,620 - 168,913 33,708 (36,073) 166,548 66,202 262,096 1,131,331 - - 1,650 - 51,978 (36,073) 66,202 263,746 1,147,236 At 31 December 650,740 Accumulated depreciation At 1 January Charge for the financial year Written off At 31 December 587,182 Carrying amount 510,213 121,944 38,142 246,693 916,992 76,969 - 22,621 (36,063) 108,502 13,241 - 6,399 - 119,230 (36,063) 51,383 253,092 1,000,159 At 31 December 63,558 58,046 14,819 10,654 147,077 2 0 2 1 Financial Reporting Foundation 158 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) NOTES TO THE FINANCIAL STATEMENTS – 31 DECEMBER 2021 4.
TANGIBLE ASSETS (CONTINUED) Furniture and fittings Computers Motor vehicle Office equipment RM RM RM RM Total RM 2020 Cost At 1 January 634,120 Additions Written off - - At 31 December 634,120 147,569 32,024 (10,680) 168,913 66,202 261,297 1,109,188 - - 799 - 32,823 (10,680) 66,202 262,096 1,131,331 Accumulated depreciation At 1 January Charge for the financial year Written off At 31 December 510,213 Carrying amount 436,471 110,448 24,902 240,505 812,326 73,742 - 22,164 (10,668) 121,944 13,240 - 6,188 - 38,142 246,693 115,334 (10,668) 916,992 At 31 December 123,907 46,969 28,060 15,403 214,339 Included in furniture and fittings is a provision for decommissioning costs which amounted to RM88,000 (2020: RM73,000).
5.

RIGHT-OF-USE ASSETS Cost At 1 January 2020 Addition Lease modification Termination At 31 December 2020/1 January 2021/ 31 December 2021 Office premises Office equipment RM RM Total RM 951,244 - (17,396) 121,906 105,652 - 1,073,150 105,652 (17,396) - (121,906) (121,906) 933,848 105,652 1,039,500 159 Financial Reporting Foundation 2 0 2 1 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) NOTES TO THE FINANCIAL STATEMENTS – 31 DECEMBER 2021 5.
RIGHT-OF-USE ASSETS (CONTINUED) Accumulated depreciation At 1 January 2020 Charge for the financial year Termination At 31 December 2020/1 January 2021 Charge for the financial year At 31 December 2021 Carrying amount At 1 January 2020 At 31 December 2020 At 31 December 2021 526,536 152,743 679,279 581,316 407,312 254,569 Office premises RM 369,928 156,608 Office equipment RM 97,525 23,568 - (115,811) 5,282 21,130 26,412 Total RM 467,453 180,176 (115,811) 531,818 173,873 705,691 24,381 605,697 100,370 79,240 507,682 333,809 The Foundation leases its office premises and office equipment.
Significant judgements and assumptions in relation to leases The Foundation assesses at lease commencement date by applying significant judgement whether it is reasonably certain to exercise the extension options.

In determining the lease term, the Foundation considers all facts and circumstances including its past practice and any cost that will be incurred to replace the asset if the extension option is not exercised.
The Foundation also applied judgement and assumptions in determining the incremental borrowing rate of the respective leases.

The Foundation first determines the closest available borrowing rates before using significant judgement to determine the adjustments required to reflect the term, security, value or economic environment of the respective leases.
Office premises There were lower lease payments from 1 September 2020 to 31 August 2021 due to the discount in rental provided by the landlord as a relief to the tenants during the COVID-19 pandemic.

This has resulted in reversal of RM Nil (2020: RM17,396) on lease modification in right-of-use assets and lease liabilities (Note 10) respectively.
2 0 2 1 Financial Reporting Foundation 160 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) NOTES TO THE FINANCIAL STATEMENTS – 31 DECEMBER 2021 6.
INVENTORIES Technical pronouncements published by the MASB At cost Less: Allowance for inventory obsolescence 2021 RM 43,825 (43,728) 97 2020 RM 44,775 (43,786) 989 The technical pronouncements refer to the MASB approved accounting standards and other technical pronouncements published and made available for sale by the Foundation.

7.

OTHER RECEIVABLES, DEPOSITS AND PREPAYMENTS Other receivables Deposits Prepayments 8.
DEPOSITS WITH FINANCIAL INSTITUTIONS Fixed rate instruments Deposits with licensed banks - with maturity less than 3 months - with maturity more than 3 months 2021 RM 10,010 48,628 46,064 104,702 2020 RM - 48,628 43,478 92,106 2021 RM 2020 RM 715,915 16,793,561 17,509,476 656,471 12,565,807 13,222,278 The interest rates for the fixed deposits at the reporting date ranged from 1.70% to 2.40% (2020: 1.55% to 3.40%) per annum.
The weighted average effective rate at the reporting date was 2.01% (2020: 2.95%) per annum.

Fixed deposits of the Foundation have maturity periods ranging from 2 months to 1 year (2020: 21 days to 1 year).

Finance income receivable at the reporting date was RM203,708 (2020: RM169,972).

Included in the above are fixed deposits with tenure less than 3 months amounting to RM715,915 (2020: RM656,471) which are classified as cash and cash equivalents in the statement of cash flows.
161 Financial Reporting Foundation 2 0 2 1 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) NOTES TO THE FINANCIAL STATEMENTS – 31 DECEMBER 2021 9.
CAPITAL GRANTS The capital grants have been provided by: Government of Malaysia Securities Commission Malaysia Bursa Malaysia Berhad 2021 RM 28,000,000 10,000,000 10,000,000 48,000,000 2020 RM 25,000,000 10,000,000 10,000,000 45,000,000 The initial capital grants of RM30 million, which were not repayable, were received over two tranches in 1997 and 1998.
During the financial year, the Foundation received a capital grant of RM3 million from the Government of Malaysia which forms part of the approved annual grant of RM3 million for 5 years from 2021 to 2025, or until the Foundation’s long-term funding plan is implemented, whichever is earlier.

10.
LEASE LIABILITIES Future lease payments payable: - Not later than one year - Later than one year and not later than five years Less: Future interest charges Present value of lease liabilities Repayable as follows: Current - Not later than one year Non-current - Later than one year and not later than five years 2021 RM 209,914 188,692 398,606 (26,762) 371,844 2020 RM 196,592 398,606 595,198 (51,760) 543,438 192,971 171,595 178,873 371,844 371,843 543,438 2 0 2 1 Financial Reporting Foundation 162 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) NOTES TO THE FINANCIAL STATEMENTS – 31 DECEMBER 2021 10.
LEASE LIABILITIES (CONTINUED) Reconciliation of lease liabilities arising from financing activities: At 1 January Less: Payments of lease liabilities Add: Interest on lease liabilities Add: Addition of lease liability Less: Lease modification Less: Termination of lease liability At 31 December 2021 RM 543,438 (196,590) 24,996 - - - 371,844 2020 RM 638,324 (205,952) 29,332 105,652 (17,396) (6,522) 543,438 There were lower lease payments from 1 September 2020 to 31 August 2021 due to the discount in rental provided by the landlord as a relief to the tenants during the COVID-19 pandemic.
This has resulted in reversal of RM Nil (2020: RM17,396) on lease modification in right-of-use assets (Note 5) and lease liabilities respectively.

11.
OTHER PAYABLES, ACCRUALS AND PROVISION Note 2021 RM Current: Other payables Accruals Deferred income – grant related to income (a) 16,547 302,746 1,620,561 1,939,854 2020 RM 15,407 309,503 296,251 621,161 Deferred income – movements during the year: At 1 January - MFRS Application and Implementation Committee 296,251 435,775 Fund received during the financial year - MFRS Application and Implementation Committee - interim funding Credited to profit or loss 13 - MFRS Application and Implementation Committee - interim funding At 31 December 1,000,000 4,000,000 500,000 2,000,000 (842,357) (2,833,333) 1,620,561 (639,524) (2,000,000) 296,251 163 Financial Reporting Foundation 2 0 2 1 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) NOTES TO THE FINANCIAL STATEMENTS – 31 DECEMBER 2021 11.
OTHER PAYABLES, ACCRUALS AND PROVISION (CONTINUED) Non-current: Provision for decommissioning costs of office renovations on lease termination Provision movement: At 1 January Provision made during the year At 31 December Note 2021 RM 2020 RM (b) 88,000 73,000 73,000 15,000 88,000 73,000 - 73,000 (a) In 2019, the Capital Market Development Fund agreed to provide a grant of up to RM1 million per year for a period of three years from 2019 to 2021 to support the activities of the MFRS Application and Implementation Committee established by MASB.
During the financial year, the Capital Market Development Fund released a grant of RM1 million (2020: RM500,000).

Included in deferred income is RM453,894 being the remaining balance of RM2.5 million accumulated fund received from the Capital Market Development Fund whereby accumulated expenses of RM2,046,106 (2020: RM1,203,749) incurred have been expensed off to profit or loss.

The expenses incurred for the current financial year were RM842,357 (2020: RM639,524) (Note 13).
In 2019, the Capital Market Development Fund agreed to provide a grant of up to RM2 million per year as an interim funding to support the operating expenditure of the Foundation and MASB for a period of three years from 2019 to 2021.

During the financial year, the Foundation received interim funding of RM4 million (2020: RM2 million), including the final grant of RM2 million.
As the term of the funding is up to the period ending 31 July 2022, an amount of RM1,166,667 of the final grant is included in deferred income, which will be recognised in profit or loss over the remaining periods in 2022.

(b) Decommissioning costs of office renovations are in respect of the premises leased by the Foundation.
The costs, which were capitalised, are recognised based on the terms of the applicable rental agreements and the estimation based on dismantling, removal and restoration costs that would be incurred when the premises are returned to the lessor on termination of the rental agreements.

The lease of office premises will expire on 31 August 2023.

12.
12.

REVENUE Revenue from contracts with customers: - Sales of technical pronouncements Timing of revenue - At a point in time 2021 RM 2020 RM 19,380 22,604 19,380 22,604 2 0 2 1 Financial Reporting Foundation 164 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) NOTES TO THE FINANCIAL STATEMENTS – 31 DECEMBER 2021 13.
OTHER INCOME 2021 RM 2020 RM Finance income from fixed deposits 367,779 388,398 Gain from disposal of tangible assets, net of tangible assets written off Fund received from Capital Market Development Fund - MFRS Application and Implementation Committee (Note 11) - interim funding (Note 11) Others 3,390 - 842,357 2,833,333 2,025 4,048,884 639,524 2,000,000 26,329 3,054,251 In 2019, the Capital Market Development Fund agreed to provide a grant of up to RM1 million per year for a period of three years from 2019 to 2021 to support the activities of the MFRS Application and Implementation Committee established by MASB.
During the financial year, the Capital Market Development Fund released a grant of RM1 million (2020: RM500,000).

Included in other income is the amount of grant released to profit or loss from deferred income (Note 11).

In 2019, the Capital Market Development Fund agreed to provide a grant of up to RM2 million per year as an interim funding to support the operating expenditure of the Foundation and MASB for a period of three years from 2019 to 2021.
During the financial year, the Foundation received interim funding of RM4 million (2020: RM2 million), including the final grant of RM2 million.

The RM2 million interim funding and part of the final grant of RM833,333 are recognised in profit or loss during the financial year.

The remaining balance of the final grant of RM1,166,667 is included in deferred income (Note 11).

14.
SURPLUS/(DEFICIT) BEFORE TAX Surplus/(Deficit) before tax is stated after charging/(crediting): Auditor’s remuneration Cost of goods sold Depreciation of tangible assets (Note 4) Depreciation of right-of-use assets (Note 5) Interest expense on lease liabilities (Note 10) Staff costs (Note 17) Reversal of allowance for inventory obsolescence IFRS Foundation’s shared costs* 2021 RM 30,000 11,390 119,230 173,873 24,996 2020 RM 28,000 17,627 115,334 180,176 29,332 1,951,054 2,064,781 (58) 368,992 (5) 358,677 165 Financial Reporting Foundation 2 0 2 1 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) NOTES TO THE FINANCIAL STATEMENTS – 31 DECEMBER 2021 14.
SURPLUS/(DEFICIT) BEFORE TAX (CONTINUED) MFRS Application and Implementation Committee’s costs (Note 13) - staff costs (Note 17) - education and outreach activities - international representation and advocacy Maintenance of premises Royalty fee 2021 RM 2020 RM 624,166 192,746 25,445 842,357 5,279 114,270 453,662 185,862 - 639,524 13,666 107,012 * The IFRS Foundation is an independent, international organisation working in the public interest with the principal objectives to develop a single set of high quality and globally accepted financial reporting standards through its standard-setting body, the International Accounting Standards Board, to promote the use and rigorous application of those standards, and to bring about their adoption through the convergence of national accounting standards and International Financial Reporting Standards.
The IFRS Foundation’s shared costs represent the FRF’s proportionate cost for accounting standard-setting, education, content services, extensible Business Reporting Language and stakeholder outreach.

15.

TAXATION No provision for taxation is made as the Foundation is in a tax loss position.
A reconciliation of income tax expense on the financial results with the applicable statutory income tax rate is as follows: Surplus/(Deficit) for the financial year Income tax at scale rate Tax effects in respect of: Expenses not deductible for tax purposes Deferred tax assets not recognised Origination and reversal of temporary difference Utilisation of deferred tax assets previously not recognised 2021 RM 95,834 25,875 12,540 - (34,763) (3,652) - 2020 RM (874,928) (236,231) 20,442 81,634 134,155 - - On 29 December 2017, the Minister of Finance Malaysia granted the Foundation an exemption from the withholding tax for royalty payments to the IFRS Foundation for 10 years, with effect from 2019 to 2028 under section 127(3A) of the Income Tax Act 1967.
2 0 2 1 Financial Reporting Foundation 166 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) NOTES TO THE FINANCIAL STATEMENTS – 31 DECEMBER 2021 16.
DEFERRED TAXATION (a) The amount determined after appropriate offsetting, is as follows: Deferred tax liabilities Deferred tax assets 2021 RM 60,280 (60,280) - 2020 RM 68,568 (68,568) - (b) The components of deferred tax assets and liabilities as at the end of the financial year comprised tax effects of: Deferred tax liabilities Income receivable from deposits with financial institutions Capital allowances in excess of depreciation Deferred tax assets Unutilised tax losses 2021 RM 55,001 5,279 60,280 2020 RM 45,892 22,676 68,568 (60,280) (68,568) - - (c) The balance of deductible temporary differences not recognised as deferred tax assets is as follows: Unutilised tax losses Other deductible temporary differences 2021 RM 2020 RM (38,319,970) (38,418,977) (1,763,794) (1,678,313) (40,083,764) (40,097,290) (d) No deferred tax assets have been recognised in the statement of financial position due to uncertainty in the availability of future taxable profits against which the deductible temporary differences can be utilised.
(e) As at 31 December 2021, the Foundation has unutilised tax losses of approximately RM38,319,000 (2020: RM38,418,000) which are available to set off against future chargeable income.

For year of assessment (YA) 2021, unutilised tax losses can only be carried forward for a maximum period of 7 consecutive YAs to be utilised against income from any business source.

Unutilised tax losses from YA 2018 can be utilised for another 7 YAs and will be disregarded in YA 2026.
167 Financial Reporting Foundation 2 0 2 1 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) NOTES TO THE FINANCIAL STATEMENTS – 31 DECEMBER 2021 17.

STAFF COSTS Salaries, allowances and overtime EPF contributions SOCSO contributions Other benefits Staff cost incurred by: (a) Foundation (b) MFRS Application and Implementation Committee 18.
COMPENSATION OF KEY MANAGEMENT PERSONNEL Key management personnel’s remuneration: Salaries and other emoluments Bonus EPF contributions Honorarium to Foundation members Honorarium to MASB members 2021 RM 2,240,856 312,898 8,735 12,731 2020 RM 2,197,733 292,151 8,696 19,863 2,575,220 2,518,443 1,951,054 624,166 2,575,220 2,064,781 453,662 2,518,443 2021 RM 2020 RM 1,131,463 62,590 189,405 1,383,458 1,600 9,000 10,600 1,070,562 97,900 182,227 1,350,689 2,800 8,000 10,800 1,394,058 1,361,489 Key management personnel are determined as persons having authority and responsibility for planning, directing and controlling activities of the Foundation and MASB, either directly or indirectly and include members of the Foundation and MASB.
Key management personnel include Foundation members, MASB members, the Executive Director, the Associate Director, the Assistant Foundation Secretary and their equivalent.

2 0 2 1 Financial Reporting Foundation 168 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) NOTES TO THE FINANCIAL STATEMENTS – 31 DECEMBER 2021 19.
FINANCIAL INSTRUMENTS (a) Financial risk management objectives and policies The Foundation’s financial risk management objectives and policies are to ensure that adequate financial resources are available for the development of the Foundation’s operations whilst managing its risks, including market price risk, credit risk, interest rate risk and liquidity and cash flow risk.

Investments are managed and monitored regularly to ensure preservation of the fund.
(i) Market price risk The Foundation’s exposure to market price risk is minimal as there is no investment in equity instruments where the fair value or future cash flows would fluctuate due to changes in market price.

(ii) Credit risk Credit risk is the risk of financial loss to the Foundation if the financial institutions fail to meet their contractual obligations.

Credit risk arises principally from deposits with financial institutions (Note 8) and cash and bank balances.
The maximum exposure to credit risk at the reporting date is the carrying amounts of the deposits with financial institutions and cash and bank balances of RM17,813,588 (2020: RM13,326,224).

At the reporting date, bank balances and deposits were held with four (2020: four) licensed banks regulated by Bank Negara Malaysia.
(iii) Interest rate risk Interest rate risk is the risk that the fair value or future cash flows of the Foundation’s financial instruments will fluctuate because of changes in market interest rate.

The Foundation is exposed to minimum interest rate risk because the deposits with financial institutions are carried at fixed rates and measured at amortised cost.

(iv) Liquidity and cash flow risk Liquidity and cash flow risk is the potential inaccessibility to money of the invested funds as and when required.
The Foundation’s exposure to liquidity and cash flow risks is mitigated by its policy of investing in liquid investment instruments.

The Foundation maintains sufficient level of cash and cash equivalents to finance its operations and to mitigate the effects of fluctuations in cash flows.

169 Financial Reporting Foundation 2 0 2 1 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) NOTES TO THE FINANCIAL STATEMENTS – 31 DECEMBER 2021 19.
FINANCIAL INSTRUMENTS (CONTINUED) (b) Classification of financial assets and liabilities The following table summarises the carrying amount of financial assets and liabilities recorded at the reporting date: Financial assets at amortised cost Other receivables and deposits Fixed deposits with financial institutions Cash and bank balances Financial liabilities at amortised cost 2021 RM 2020 RM 58,638 48,628 17,509,476 13,222,278 304,112 103,946 Other payables and accruals Lease liabilities 1,939,854 371,844 621,161 543,438 Further quantitative disclosures are included throughout these financial statements.
(c) Capital management The Foundation manages the capital grants through appropriate investments in fixed deposits to minimise the risk of loss of capital.

(d) Fair values of financial instruments The Foundation has determined that the carrying amounts of the financial assets and financial liabilities of the Foundation approximate their fair values due to the relatively short term nature of these financial instruments.

20.
20.

RELATED PARTY TRANSACTIONS For the purposes of these financial statements, parties are considered to be related to the Foundation if the Foundation has the ability, directly or indirectly, to control or jointly control the party or exercise significant influence over the party in making financial and operating decisions, or vice versa, or where the Foundation and the party are subject to common control.

Related parties may be individuals or other entities.
Related parties also include key management personnel defined as those persons having authority and responsibility for planning, directing and controlling the activities of the Foundation and MASB, either directly or indirectly and include members of the Foundation and MASB.

The Foundation has related party relationship with its key management personnel.
2 0 2 1 Financial Reporting Foundation 170 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) NOTES TO THE FINANCIAL STATEMENTS – 31 DECEMBER 2021 20.

RELATED PARTY TRANSACTIONS (CONTINUED) Related party transactions Related party transactions have been entered into in the normal course of business under normal trade terms.

The related party transactions of the Foundation are as follows: Legal fee MFRS Application and Implementation Committee’s costs 21.
SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR 2021 RM - 9,000 2020 RM 9,500 5,000 On 27 January 2021 and 30 August 2021, the Foundation received the second and final interim funding of RM2 million respectively from the Capital Market Development Fund to support the operating expenditure of the Foundation and MASB.

On 17 February 2021, the Foundation received RM3 million from the Ministry of Finance Malaysia as payment of the annual capital grant.

22.
22.

SUBSEQUENT EVENT On 24 February 2022, the Foundation received RM3 million from the Ministry of Finance Malaysia as payment of the annual capital grant.

23.

AUTHORISATION FOR ISSUE The financial statements of the Foundation for the financial year ended 31 December 2021 were approved and authorised for issue by the Members of the Foundation on 8 March 2022.
171 Financial Reporting Foundation 2 0 2 1 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) STATEMENT BY THE MEMBERS OF THE FINANCIAL REPORTING FOUNDATION We, DATO’ ZAINAL ABIDIN PUTIH and DATUK MOHD NASIR AHMAD, being two of the Members of the FINANCIAL REPORTING FOUNDATION, hereby state that, in the opinion of the Members of the Foundation, the financial statements set out on pages 145 to 171 have been drawn up in accordance with the provisions of the Financial Reporting Act 1997 in Malaysia, Malaysian Financial Reporting Standards and International Financial Reporting Standards so as to give a true and fair view of the financial position of the Foundation as at 31 December 2021 and of its financial performance and the cash flows for the financial year ended on that date.
On behalf of the Members of the Financial Reporting Foundation, DATO’ ZAINAL ABIDIN PUTIH Chairman DATUK MOHD NASIR AHMAD Member Kuala Lumpur 8 March 2022 2 0 2 1 Financial Reporting Foundation 172 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) DECLARATION BY THE OFFICER PRIMARILY RESPONSIBLE FOR THE FINANCIAL MANAGEMENT OF THE FINANCIAL REPORTING FOUNDATION I, CHEE CHOONG YIN, being the officer primarily responsible for the financial management of the FINANCIAL REPORTING FOUNDATION, do solemnly and sincerely declare that the financial statements set out on pages 145 to 171 are to the best of my knowledge and belief, correct and I make this solemn declaration conscientiously believing the same to be true and by virtue of the provisions of the Statutory Declarations Act 1960.
CHEE CHOONG YIN MIA number: 9796 Subscribed and solemnly declared by the abovenamed at Kuala Lumpur in the Federal Territory on 8 March 2022 Before me 173 Financial Reporting Foundation 2 0 2 1 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF FINANCIAL REPORTING FOUNDATION Report on the Audit of the Financial Statements Opinion We have audited the financial statements of Financial Reporting Foundation, which comprise the statement of financial position as at 31 December 2021, and the statement of profit or loss and other comprehensive income, statement of changes in equity and statement of cash flows for the financial year then ended, and notes to the financial statements, including a summary of significant accounting policies, as set out on pages 145 to 171.
In our opinion, the accompanying financial statements give a true and fair view of the financial position of the Foundation as at 31 December 2021, and of its financial performance and its cash flows for the financial year then ended in accordance with Malaysian Financial Reporting Standards, International Financial Reporting Standards and the provisions of the Financial Reporting Act 1997 in Malaysia.
Basis for Opinion We conducted our audit in accordance with approved standards on auditing in Malaysia and International Standards on Auditing.

Our responsibilities under those standards are further described in the Auditors’ Responsibilities for the Audit of the Financial Statements section of our report.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Independence and Other Ethical Responsibilities We are independent of the Foundation in accordance with the By-Laws (on Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants (“By-Laws”) and the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (including International Independence Standards) (“IESBA Code”), and we have fulfilled our other ethical responsibilities in accordance with the By-Laws and the IESBA Code.
Responsibilities of the Members for the Financial Statements The Members of the Foundation are responsible for the preparation of financial statements of the Foundation that give a true and fair view in accordance with Malaysian Financial Reporting Standards, International Financial Reporting Standards and the provisions of the Financial Reporting Act 1997 in Malaysia.
The Members are also responsible for such internal control as the Members determine is necessary to enable the preparation of financial statements of the Foundation that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements of the Foundation, the Members are responsible for assessing the Foundation’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Members either intend to liquidate the Foundation or to cease operations, or have no realistic alternative but to do so.
Auditors’ Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements of the Foundation as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with approved standards on auditing in Malaysia and International Standards on Auditing will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
2 0 2 1 Financial Reporting Foundation 174 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF FINANCIAL REPORTING FOUNDATION (CONTINUED) Report on the Audit of the Financial Statements (continued) Auditors’ Responsibilities for the Audit of the Financial Statements (continued) As part of an audit in accordance with approved standards on auditing in Malaysia and International Standards on Auditing, we exercise professional judgement and maintain professional scepticism throughout the audit.
We also: ● ● ● ● ● Identify and assess the risks of material misstatement of the financial statements of the Foundation, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.
The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Foundation’s internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Members.

Conclude on the appropriateness of the Members’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Foundation’s ability to continue as a going concern.
If we conclude that a material uncertainty exists, we are required to draw attention in our auditors’ report to the related disclosures in the financial statements of the Foundation or, if such disclosures are inadequate, to modify our opinion.

Our conclusions are based on the audit evidence obtained up to the date of our auditors’ report.

However, future events or conditions may cause the Foundation to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements of the Foundation, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with the Members regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Other Matters This report is made solely to the Members of the Foundation, as a body, in accordance with the Financial Reporting Act 1997 in Malaysia and for no other purpose.

We do not assume responsibility to any other person for the content of this report.
RSM Malaysia PLT 202206000002 (LLP0030276-LCA) & AF 0768 Chartered Accountants Kuala Lumpur 8 March 2022 175 Financial Reporting Foundation 2 0 2 1 Financial Reporting Foundation (Established under the Financial Reporting Act 1997) MISI KAMI Untuk membangunkan dan menggalakkan piawaian perakaunan dan pelaporan kewangan berkualiti tinggi yang konsisten dengan amalan terbaik antarabangsa untuk manfaat pengguna, penyedia, juruaudit dan pihak awam.
KANDUNGAN Kandungan laporan tahunan ini terbahagi kepada seksyen Bahasa Inggeris dan Bahasa Malaysia.
Muka surat ini sengaja dibiarkan kosong L A P O R A N TA H U N A N 2021 Akronim dan Singkatan ACCA AOSSG ASAF BCUCC Persatuan Akauntan Bertauliah Berkanun Kumpulan Penetap Piawaian Asia-Oseania Forum Penasihat Piawaian Perakaunan Kombinasi Perniagaan di bawah Kawalan Sepunya CAC AOSSG Jawatankuasa Penasihat Pengerusi AOSSG ED EEG EFRAG Draf Pendedahan Kumpulan Ekonomi Sedang Meningkat Naik Kumpulan Penasihat Laporan Kewangan Eropah FRF/Yayasan Yayasan Laporan Kewangan IAS IASB IFASS IFR4NPO IFRIC IFRS IFRSF KPI LHDNM LIAM MAIC MAIG Piawaian Perakaunan Antarabangsa Lembaga Piawaian Perakaunan Antarabangsa Forum Penetap Piawaian Perakaunan Antarabangsa Pelaporan Kewangan Antarabangsa Untuk Organisasi Bukan-Untung Jawatankuasa Interpretasi IFRS Piawaian Pelaporan Kewangan Antarabangsa Yayasan IFRS Petunjuk Prestasi Utama Lembaga Hasil Dalam Negeri Malaysia Persatuan Insurans Hayat Malaysia Jawatankuasa Aplikasi dan Pelaksanaan MFRS Panduan Aplikasi dan Pelaksanaan MFRS MASB/Lembaga Lembaga Piawaian Perakaunan Malaysia MFRS MIA MICPA MPERS NPO PIAM PIR SME SMEIG TAG TRG WG WSS Piawaian Pelaporan Kewangan Malaysia Institut Akauntan Malaysia Institut Akauntan Awam Bertauliah Malaysia Piawaian Pelaporan Entiti Persendirian Malaysia Organisasi Bukan-Untung Persatuan Insurans Am Malaysia Semakan Pasca Pelaksanaan Entiti Kecil dan Sederhana Kumpulan Pelaksanaan SME Kumpulan Penasihat Teknikal Kumpulan Sumber Peralihan Kumpulan Kerja Penetap Piawaian Sedunia V Yayasan Laporan Kewangan 2 0 2 1 Isi Kandungan Petunjuk Kewangan dari 1997 hingga 2021 Sorotan Penting 2021 Penyata Pengerusi – Yayasan Laporan Kewangan Penyata Pengerusi – Lembaga Piawaian Perakaunan Malaysia Yayasan Laporan Kewangan Profil Ahli – Yayasan Laporan Kewangan Lembaga Piawaian Perakaunan Malaysia Profil Ahli dan Penasihat – Lembaga Piawaian Perakaunan Malaysia Pengurusan dan Pasukan Teknikal Kerja Teknikal Sepanjang 2021 Jawatankuasa Aplikasi dan Pelaksanaan MFRS (MAIC) Peristiwa Sepanjang 2021 – Penglibatan Dengan Pihak Berkepentingan Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) Penyata Kewangan – Yayasan Laporan Kewangan 01 03 06 10 16 20 32 36 46 52 90 96 116 146 Petunjuk Kewangan dari 1997 hingga 2021 PENDAPATAN TAHUN PERBELANJAAN TAHUN LEBIHAN / (KURANGAN) SEBELUM CUKAI TAHUN 1 1 Yayasan Laporan Kewangan 2 0 2 1 Petunjuk Kewangan dari 1997 hingga 2021 LEBIHAN / (KURANGAN) TERKUMPUL ATAS JUMLAH PENDAPATAN KOMPREHENSIF 2,486 3,113 2,802 2,732 529 4,212 4,490 5,311 6,319 5,640 5,766 4,435 2,512 -58 -3,077 -5,617 -9,538 -13,394 -17,137 -21,037 -24,796 -28,068 -31,221 -32,096 -32,000 33,201 33,025 32,958 32,510 30,670 TAHUN JUMLAH ASET 34,504 35,045 36,059 35,664 36,619 36,207 34,695 32,736 30,187 27,218 24,677 20,821 16,854 13,114 18,399 14,141 12,272 12,419 11,375 11,330 TAHUN 2 0 2 1 Yayasan Laporan Kewangan 2 2 Sorotan Penting 2021 Infografik ini menggambarkan semua aktiviti yang dijalankan dan dicapai sepanjang tahun.
15 Pernyataan Muktamad 5 Pindaan kepada Piawaian MFRS 3 Pernyataan Teknikal 7 Keputusan Agenda IFRIC 23 Draf Pernyataan Teknikal 1 Draf Pendedahan Yayasan IFRS 2 Permohonan Maklumat IASB 9 Draf Pendedahan IASB 9 Keputusan Agenda Tentatif IFRIC Articles Published 2 Draf Pernyataan Teknikal MASB 21 Surat Maklum Balas 1 1 1 Draf Pendedahan Yayasan IFRS 1 Kertas Perbincangan IASB 2 Permohonan Maklumat IASB 6 Draf Pendedahan IASB 11 Keputusan Agenda Tentatif IFRIC 3 Yayasan Laporan Kewangan 2 0 2 1 Pernyataan Teknikal: Prakata Prakata Kepada Pernyataan Teknikal dan Panduan 1 1 1 7 Panduan Aplikasi dan Pelaksanaan MFRS (MAIG) 18 MAIG 3 Penyediaan penyata kewangan disatukan bagi kumpulan yang telah melupuskan satu-satunya anak syarikat pada tahun kewangan Pelaporan Kewangan Islam: Buletin Isu Buletin Isu 3 Pelaporan Qard dalam Lajur Dana Takaful dalam Penyata Kewangan Entiti Takaful Sorotan Penting 2021 9 Aktiviti Jangkauan Luar 2 Sesi libat urus MAIC bersama Ahli Akademik / Pelajar 2 Sesi bersama Ahli Akademik / Pelajar 4 Jemputan Berucap PENGIKTIRAFAN Yayasan telah menerima Sijil Pematuhan Sistem Perakaunan Standard bagi Agensi Kerajaan (SAGA) daripada Jabatan Akauntan Negara Malaysia (JANM) yang memperakui bahawa sistem perakaunan Yayasan mematuhi reka bentuk sistem kewangan dan perakaunan yang diluluskan oleh JANM dan Kriteria Pematuhan SAGA.
29 Penyertaan Serantau / Antarabangsa 14 Penyertaan dalam IASB 9 Penyertaan dalam AOSSG 6 Lain-lain (TAG IFR4NPO dan IFASS) 3 Artikel diterbitkan Pendedahan Kewangan Berkaitan Iklim (CRFD) – bersedia atau tidak?

Memahami andaian yang digunakan dalam menentukan aliran tunai dijangka masa depan untuk pengujian rosot nilai ladang kelapa sawit Apakah yang menyebabkan juruaudit anda berjaga pada waktu malam?
2 0 2 1 Yayasan Laporan Kewangan 4 Sijil Pematuhan Sistem Perakaunan Standard bagi Agensi Kerajaan (SAGA) yang dianugerahkan oleh Jabatan Akauntan Negara Malaysia (JANM) 5 Yayasan Laporan Kewangan 2 0 2 1 PENYATA PENGERUSI Yayasan Laporan Kewangan 2 0 2 1 Yayasan Laporan Kewangan 6 tahun ini, Yayasan terus "Sepanjang menyokong MASB dalam melaksanakan peranannya, termasuk libat urus dengan pengawal selia, sektor komersial, firma perakaunan, badan profesional, ahli akademik dan sebagainya.
Beberapa jangkauan antarabangsa program (‘outreach activities’) berkaitan luar dengan teknikal pernyataan telah dibuat secara maya.

Program telah diadakan ini jangkauan bersama-sama Lembaga dengan Piawaian Perakaunan Antarabangsa (IASB), Piawaian Jawatankuasa Perakaunan China dan Institut Akauntan India.

Maklum balas yang Berkanun diterima daripada ini jangkauan sangat memberangsangkan."
draf luar luar DATO' ZAINAL ABIDIN PUTIH Pengerusi Yayasan Laporan Kewangan 7 Yayasan Laporan Kewangan 2 0 2 1 PENYATA PENGERUSI Penyata Pengerusi Salam sejahtera kepada semua.

Sukacita saya menyatakan bahawa ini adalah penyata pertama saya sebagai Pengerusi Yayasan Laporan Kewangan (Yayasan) setelah dilantik pada bulan Julai 2021.

COVID-19 Pandemik terus mengganggu pelbagai aktiviti normal di seluruh dunia dan memberi impak yang berbeza kepada banyak organisasi, terutamanya dari sudut yang negatif.
Bagi mengurangkan gangguan, kakitangan kami di Yayasan dan badan penetap piawaian, Lembaga Piawaian Perakaunan Malaysia (MASB) telah bekerja dan bermesyuarat secara maya (‘online’) dengan penuh dedikasi dan cekap bagi mencapai sasaran yang telah ditetapkan.

Oleh itu, saya bagi pihak ahli Yayasan sangat berbesar hati untuk membentangkan laporan tahunan dan penyata kewangan Yayasan yang tahun kewangan berakhir telah diaudit bagi 31 Disember 2021.
Sorotan Penting Pelabur kini semakin peka tentang pelaporan kelestarian (‘sustainability’).

Permintaan untuk syarikat menyediakan pelaporan berkaitan iklim, dan perihal alam sekitar, sosial dan tadbir urus (ESG) yang berkualiti tinggi, telus, berwibawa dan sebanding kian meningkat.

Ini berikutan pelabur semakin menitikberatkan ESG dalam mencari peluang pelaburan atau pertumbuhan.
Sentimen yang ditunjukkan dan komitmen yang dibuat semasa COP26* yang berlangsung di Glasgow pada bulan November 2021, menunjukkan penerimaan bahawa dunia kini sedang berdepan dengan keadaan perubahan iklim yang serius.

Perubahan dramatik perlu dibuat berkenaan tingkah laku kolektif kita untuk memastikan kita lebih bertanggungjawab bagi mengelakkan bencana iklim yang buruk di masa hadapan.
IFRS Foundation (IFRSF) telah meluaskan bidang tugasnya ke arah piawaian pelaporan kelestarian berikutan sokongan awam antarabangsa yang kuat terhadap Kertas Perundingan IFRSF: Sustainability Reporting.

Badan penetap piawaian yang baharu, International Sustainability Standards Board (ISSB) telah ditubuhkan pada bulan November 2021 untuk menetapkan piawaian pendedahan berkaitan kelestarian.

* Persidangan Perubahan Iklim Pertubuhan Bangsa-Bangsa Bersatu Yayasan dan MASB mengikut rapat perkembangan di IFRSF.
Sehubungan itu, buat sementara waktu ini, MASB telah menubuhkan Kumpulan Kerja 71 Sustainability Reporting sebagai satu platform buat pihak kami untuk berbincang dan seterusnya memberikan maklum balas ke atas pernyataan IFRSF tentang pelaporan kelestarian dan hal-hal yang berkaitan.
Bagi pihak Yayasan, pada bulan Oktober 2021, Yayasan telah menerima Sijil Pematuhan Sistem Perakaunan Standard bagi Agensi Kerajaan (SAGA) daripada Jabatan Akauntan Negara Malaysia (JANM) yang memperakui bahawa sistem perakaunan Yayasan mematuhi reka bentuk sistem kewangan dan perakaunan yang diluluskan oleh JANM dan Kriteria Pematuhan SAGA.
Yayasan merupakan agensi kecil Kerajaan yang pertama dan badan berkanun persekutuan yang kelima di bawah Kementerian Kewangan Malaysia yang menjalani penilaian ini untuk pensijilan SAGA.

Sementara itu, perjanjian khidmat kakitangan JANM yang dipinjamkan ke MASB telah tamat pada 31 Ogos 2021.

Pada bulan Januari 2022, kami telah menerima kehadiran kakitangan yang dipinjamkan dari Bank Negara Malaysia (BNM).

Saya mengucapkan terima kasih kepada JANM dan BNM di atas bantuan tersebut.
dalam melaksanakan Sepanjang tahun ini, Yayasan terus menyokong MASB peranannya, termasuk libat urus dengan pengawal selia, sektor komersial, firma perakaunan, badan profesional, ahli akademik dan sebagainya.

Beberapa program antarabangsa jangkauan luar (‘outreach activities’) berkaitan dengan draf pernyataan teknikal telah dibuat secara maya.
Program jangkauan luar ini telah diadakan bersama-sama dengan Lembaga Piawaian Perakaunan Antarabangsa (IASB), Jawatankuasa Piawaian Perakaunan China dan Institut Akauntan Berkanun India.

Maklum balas yang diterima daripada jangkauan luar ini sangat memberangsangkan.
MASB juga telah meneruskan penglibatannya di arena antarabangsa, antara lainnya termasuk mesyuarat Majlis Penasihat IFRS, mesyuarat Kumpulan Ekonomi Sedang Meningkat Naik IASB (Emerging Economies Group), mesyuarat Kumpulan Islam IASB (Islamic Finance Consultative Group), mesyuarat Forum Penetap Piawaian Perakaunan Antarabangsa (International Forum of Accounting Perundingan Kewangan 2 0 2 1 Yayasan Laporan Kewangan 8 Penyata Pengerusi Standard Setters), dan mesyuarat serantau Kumpulan Penetap Piawaian Asia-Oseania (Asian-Oceanian Standards-Setters Group).
Penghargaan Kedudukan Kewangan Kami Pada tahun ini, perbelanjaan operasi yang dibiayai oleh dana interim daripada Dana Pembangunan Pasaran Modal (CMDF) adalah sebanyak RM2.8 juta berbanding RM2 juta pada tahun 2020.

Di samping itu, perbelanjaan tertanggung bagi aktiviti aplikasi dan pelaksanaan MFRS pada tahun telah ini yang berjumlah RM842,357 dibayar balik sepenuhnya oleh CMDF.

Yayasan faedah sebanyak juga menerima pendapatan RM367,779 daripada penempatan deposit tetap.
Sehubungan itu, Yayasan melaporkan lebihan bersih sebanyak RM95,834 untuk tahun kewangan berakhir 31 Disember 2021 berbanding defisit sebanyak RM0.87 juta pada tahun 2020.

Apabila saya mengambil alih tampuk kepimpinan, Yayasan pada masa itu sedang berusaha keras menerokai pelbagai sumber alternatif pelan pendanaan Yayasan.

Setakat hari ini, pelan tersebut masih dalam perbincangan dan Yayasan komited untuk mengusahakan pelan pendanaan yang lebih mampan dengan kerjasama Kementerian Kewangan Malaysia.
amat Saya berbangga melihat MASB mengukuhkan kedudukannya di samping badan penetap piawaian serantau dan antarabangsa yang disegani.

Saya dan ahli Yayasan ingin merakamkan setinggi-tinggi penghargaan kepada Kementerian Kewangan Malaysia, BNM, Suruhanjaya Sekuriti Malaysia, Bursa Malaysia, Suruhanjaya Syarikat Malaysia, CMDF, MASB, ahli-ahli industri, profesion perakaunan dan pengguna penyata kewangan atas sokongan mereka.
Saya juga ingin memberi penghargaan kepada Sekretariat Yayasan dan MASB yang diketuai oleh Puan Tan Bee Leng di atas dedikasi, usaha gigih, dan kesetiaan yang ditunjukkan sepanjang perkhidmatan mereka di Yayasan dan MASB.

Terima kasih.
Terima kasih.

Dato' Zainal Abidin Putih Pengerusi Yayasan Laporan Kewangan 8 Mac 2022 9 Yayasan Laporan Kewangan 2 0 2 1 PENYATA PENGERUSI Lembaga Piawaian Perakaunan Malaysia 2 0 2 1 Yayasan Laporan Kewangan 10 "Kejayaan dan kemajuan yang telah dicapai oleh MASB sejak penubuhannya pada tahun 1997 adalah bukti jelas bahawa para pemimpin terdahulu telah menjalankan tugas dengan amat baik."
DATUK MOHD NASIR AHMAD Pengerusi Lembaga Piawaian Perakaunan Malaysia 11 Yayasan Laporan Kewangan 2 0 2 1 PENYATA PENGERUSI Penyata Pengerusi Pengenalan Saya amat berbesar hati apabila dilantik oleh Menteri Kewangan Malaysia sebagai Pengerusi Lembaga Piawaian Perakaunan Malaysia (MASB) mulai 1 Mei 2021, menggantikan Encik Mohamed Raslan Abdul Rahman.

Ia adalah satu keistimewaan mengetuai MASB, sebuah badan penetap piawaian nasional yang mapan.
Kejayaan dan kemajuan yang telah dicapai oleh MASB sejak penubuhannya pada tahun 1997 adalah bukti jelas bahawa para pemimpin terdahulu telah menjalankan tugas dengan amat baik.

Pencapaian MASB adalah teladan yang hebat.

Justeru, ini adalah satu peranan yang sangat mencabar untuk digalas.
Bagaimanapun, saya harap pengalaman saya dalam pelaporan kewangan akan menjadi pelengkap kepada sokongan daripada ahli Yayasan dan MASB serta semua Kami bertanggungjawab bekerjasama memastikan segala objektif dapat dicapai.

Sekretariat MASB.

dan keperluan di dalam Piawaian IFRS harus diaplikasikan bagi corak fakta transaksi yang dihuraikan.
Sebagai sebahagian daripada objektif untuk mengambil bahagian dan menyumbang kepada proses penetapan piawaian IASB, MASB telah menerbitkan 21 dokumen perundingan untuk pendedahan awam di Malaysia.

Sejumlah 21 dokumen IASB ini merangkumi sembilan Draf Pendedahan IASB, dua Permohonan Maklumat IASB, sembilan Keputusan Agenda Tentatif IFRIC dan satu Draf Pendedahan Yayasan IFRS.

Di samping itu, MASB juga telah menerbitkan dua draf pernyataan teknikal tempatan.
Kami juga telah menyerahkan 10 surat maklum balas serta memberikan komen ke atas 11 Keputusan Agenda Tentatif IFRIC.

Sejumlah 10 surat maklum balas tersebut merangkumi enam Draf Pendedahan IASB, satu Kertas Perbincangan IASB, dua Permohonan Maklumat IASB dan satu Draf Pendedahan Yayasan IFRS.

Menambahbaik konsistensi ini telah bekerja Pasukan tanpa mengenal penat lelah sepanjang tahun ini untuk mencapai matlamat dan sasaran.
Bagi pihak MASB, saya laporkan aktiviti berikut yang telah berlangsung sepanjang tahun ini.

Tahun 2021 Dalam Semakan satu telah menerbitkan MASB Prakata kepada Pernyataan Teknikal dan Panduan serta lima pernyataan muktamad MFRS yang berkaitan dengan pindaan terhad ke atas beberapa Piawaian iaitu, MFRS 16 Pajakan, MFRS 101 Pembentangan Penyata Kewangan, MFRS 108 Dasar Perakaunan, Perubahan dalam Anggaran Perakaunan dan Kesilapan, MFRS 112 Cukai Pendapatan dan MFRS 17 Kontrak Insurans.
IFRS Kami juga telah memaklumkan kepada pihak berkepentingan mengenai tujuh Keputusan Agenda yang telah diterbitkan oleh Jawatankuasa (IFRIC) bagi menyokong Interpretasi aplikasi Piawaian IFRS.
Kami telah mengedarkan IFRIC Keputusan Agenda pihak kepada berkepentingan sejak tahun 2018 dan kami percaya bahawa Keputusan Agenda ini memberi manfaat dalam menjelaskan bagaimana prinsip menyokong pengaplikasian Dalam dan pelaksanaan MFRS, Jawatankuasa Aplikasi dan Pelaksanaan MFRS (MAIC) MASB, yang berperanan membantu dalam pengaplikasian dan pelaksanaan MFRS secara konsisten serta mengkaji isu yang mempunyai perbezaan amalan sedia ada atau yang berkemungkinan, telah menerbitkan Panduan Aplikasi dan Pelaksanaan MFRS (MAIG) 3 Penyediaan penyata kewangan disatukan bagi kumpulan yang telah melupuskan satu-satunya anak syarikat dalam tahun kewangan.
Dengan menjangka perubahan yang bakal dibawakan oleh MFRS 17 Kontrak Insurans berkuat kuasa mulai 1 Januari 2023, MASB telah menubuhkan Pasukan Petugas Pelaksanaan MFRS 17 pada bulan Januari 2021 untuk membantu pengaplikasian dan pelaksanaan piawaian baharu secara konsisten, terutamanya semasa tempoh peralihan daripada MFRS 4 Kontrak Insurans kepada MFRS 17.
Pasukan Petugas ini akan membincangkan isu pelaksanaan tempatan dan memberikan cadangan kepada Lembaga MASB tentang terbitan sebarang bentuk panduan teknikal, atau sebaliknya.

Pada bulan April, MASB telah dijemput untuk membuat pembentangan di Dialog BNM-FIDE 2 0 2 1 Yayasan Laporan Kewangan 12 Penyata Pengerusi FORUM-MASB mengenai ‘MFRS 17 Kontrak Insurans: Apa yang Harus Diketahui oleh Setiap Pengarah’, yang telah dianjurkan oleh FIDE FORUM.
Ini merupakan satu sesi ulang kaji tentang MFRS 17 bersama para pengarah institusi kewangan.

Berkenaan pelaporan kewangan Islam, pada bulan Jun, MASB telah menerbitkan Buletin Isu (IB) 3 Pelaporan Qard dalam Lajur Dana Takaful di dalam Penyata Kewangan Entiti Takaful, yang merupakan pelengkap kepada piawaian perakaunan yang diluluskan oleh MASB dan terbitan IB 1 MFRS 17 Kontrak Insurans: Definisi dan Skop untuk Takaful dan IB 2 Pembentangan Berlajur Dana Takaful dalam Penyata Kewangan Entiti Takaful.
terdahulu, Penglibatan dengan pihak berkepentingan diselubungi ketidakpastian yang Meskipun berpanjangan akibat pandemik COVID-19 dan kesannya kepada seluruh dunia sejak lewat tahun 2019, MASB dapat meneruskan penglibatan aktif dengan pihak berkepentingan serta menyertai pelbagai forum dan mesyuarat serantau dan antarabangsa.
Bekerja secara dalam talian adalah sebahagian daripada norma baharu yang membolehkan kami menganjurkan enam sesi jangkauan luar secara dalam talian bersama IASB dan penetap piawaian nasional lain untuk mendengar pandangan dan mendapatkan maklum balas daripada konstituen berkenaan draf pernyataan IASB yang baharu.

Empat sesi jangkauan luar telah dianjurkan bersama IASB, sementara dua sesi IASB dan penetap lagi dianjurkan bersama piawaian nasional lain.
teknikal jangkauan luar kami bersama Aktiviti IASB bermula pada bulan Mac bagi topik ‘Semakan Pasca Pelaksanaan IFRS 10 Penyata Kewangan Disatukan, IFRS 11 Pengaturan Bersama dan IFRS 12 Pendedahan Kepentingan dalam Entiti Lain’, yang telah diadakan dalam dua sesi.

Satu lagi sesi anjuran bersama yang diadakan pada bulan April adalah mengenai Draf Pendedahan IASB ED/2021/1 Aset Kawal Selia dan Liabiliti Kawal Selia.
itu, berikutan penerbitan Draf Di samping Pendedahan Keperluan IASB Pendedahan Piawaian IFRS—Pendekatan Rintis dan memandangkan perubahan signifikan ke atas keperluan pendedahan yang dicadangkan oleh Draf Pendedahan ini, kami telah mengadakan ED/2021/3 13 Yayasan Laporan Kewangan 2 0 2 1 satu lagi sesi jangkauan luar bersama IASB pada bulan Jun dan satu forum awam MASB pada bulan Julai untuk konstituen berkongsi pandangan dan kebimbangan mereka.
ini Forum awam telah menarik minat ramai peserta daripada pelbagai latar belakang.

Oleh kerana terdapat perubahan signifikan ke atas cara syarikat menyediakan pendedahan seperti yang dicadangkan oleh ED/2021/3, kami telah bekerjasama dengan IASB dan melibatkan dua konglomerat Malaysia untuk menyertai kerja lapangan IASB bagi menguji cadangan tersebut ke atas penyata kewangan mereka.

lain.
lain.

Dalam hal sentiasa menghargai Kami kepentingan bekerjasama dengan penetap piawaian nasional yang ini, bersama dengan IASB, kami telah meluaskan kolaborasi dengan menganjurkan sesi jangkauan luar bersama.

Sesi pertama telah diadakan bersama Jawatankuasa Piawaian Perakaunan China (CASC) berkaitan Permohonan Maklumat Perundingan Agenda Ketiga.
Sesi kedua telah diadakan bersama Institut Akauntan Berkanun India (ICAI) untuk memberikan keseluruhan Draf Pendedahan IASB ED/2021/7 Anak Syarikat tanpa Kebertanggungjawaban Awam: Pendedahan dan untuk mendapatkan maklum balas daripada peserta tentang Draf Pendedahan tersebut.

gambaran Selain daripada siri aktiviti IFRS yang dinyatakan di atas, pihak berkepentingan SME juga penting bagi kami.
Sepanjang tahun ini, MASB bersama dengan IASB telah mengadakan dua sesi penglibatan tertutup dengan penyedia penyata kewangan SME untuk mendengar pandangan mereka berkaitan semakan Piawaian IFRS untuk SME yang akan datang; Piawaian ini telah diterbitkan sebagai Piawaian Pelaporan Entiti Persendirian Malaysia.

Butiran lanjut mengenai sesi jangkauan luar boleh didapati di bahagian Peristiwa di dalam Laporan Tahunan ini.
Kesemua sesi jangkauan luar diterima baik dan kami berterima kasih atas sokongan pihak berkepentingan.

Kami juga menghargai hubungan kerja yang teguh bersama IASB kerana ia membuka peluang untuk menghubungkan konstituen kami dengan IASB.

Kami berharap dapat meneruskan kerjasama yang baik dengan IASB dan penetap piawaian nasional lain terutamanya daripada sudut penglibatan dengan pihak berkepentingan.
Lanjutan daripada siri sesi penglibatan dengan pihak berkepentingan, kami juga telah menerbitkan Penyata Pengerusi tiga artikel 'Pendedahan teknikal bertajuk, Kewangan Berkaitan Iklim (CRFD) – bersedia atau tidak?

', 'Memahami andaian yang diguna pakai dalam menentukan aliran tunai dijangka masa depan untuk pengujian rosotnilai ladang kelapa sawit', dan 'Apakah yang membuatkan juruaudit anda berjaga pada waktu malam?'.
Berkongsi pengetahuan dan pengalaman di peringkat global dan serantau Mesyuarat serantau dan antarabangsa yang kami hadiri menyediakan platform terbaik untuk kami menyuarakan pandangan dan kebimbangan konstituen Malaysia.
Dalam hal ini, saya sukacita melaporkan bahawa projek berpotensi yang disyorkan oleh MASB di pelbagai mesyuarat antarabangsa pada tahun 2019 iaitu, IAS 23 Kos Pinjaman, IAS 20 Perakaunan untuk Geran Kerajaan dan Pendedahan Bantuan Kerajaan dan IAS 38 Aset Tak Ketara, telah dipertimbangkan oleh IASB dan disenaraikan sebagai projek berpotensi dalam Permohonan IASB Maklumat Perundingan Agenda Ketiga.
akan menilai maklum balas yang diterima ke atas perundingan agenda dalam menentukan sama ada projek ini akan dimasukkan ke dalam pelan kerja IASB bagi tahun 2022-2026. iaitu kaedah ekuiti, kini Manakala satu lagi projek lain yang disyorkan oleh MASB, telah disenaraikan sebagai projek kajian IASB.
Dalam hal ini, saya juga sukacita melaporkan bahawa isu berkaitan ‘Pengolahan perakaunan bagi perolehan kepentingan tambahan dalam usaha sama tanpa perubahan dalam kawalan bersama’ yang dibentangkan oleh MASB dalam mesyuarat Kumpulan Ekonomi Sedang Meningkat Naik (EEG) IASB pada bulan November 2020 telah diberi perhatian dalam mesyuarat IASB pada bulan Jun 2021.
Mesyuarat tersebut membincangkan, antara lain, soalan aplikasi berkaitan pembelian atau tambahan lain dalam saham pemilikan pelabur yang tidak menyebabkan pemerolehan kawalan oleh penerima pelaburan.

Topik yang sama turut dibincangkan di Forum Penasihat Piawaian Perakaunan (ASAF) pada bulan Oktober 2021. adalah Perundingan Agenda Ketiga dan pelaporan kelestarian.
Puan Tan meneruskan penglibatan aktif beliau dalam Kumpulan Pelaksanaan SME (SMEIG) IASB yang ditubuhkan untuk menyokong penerimaan pakai antarabangsa Piawaian IFRS untuk SME, dan juga untuk memantau pelaksanaannya.

Dalam telah membincangkan mesyuarat topik penting berkaitan semakan komprehensif Piawaian IFRS untuk SME dan mengemukakan cadangan yang membolehkan IASB menentukan hala tujunya berkaitan sama ada dan bagaimana untuk menyelaraskan Piawaian IFRS untuk SME dengan Piawaian IFRS.
ini, SMEIG juga telah menghadiri mesyuarat Puan Tan EEG IASB yang diadakan pada bulan Mei, Julai dan Disember, serta mesyuarat Forum Penetap Piawaian Perakaunan Antarabangsa (IFASS) yang diadakan pada bulan Mac dan September.

Butiran lanjut mengenai topik yang dibincangkan dalam mesyuarat ini boleh didapati di bahagian Peristiwa di dalam Laporan Tahunan ini.
telah Pada bulan November, wakil MASB Kumpulan menyertai Mesyuarat Tahunan Penetap Piawaian Asia-Oseania (AOSSG) ke-13 yang telah diadakan secara dalam talian dan dianjurkan oleh Institut Akauntan Berkanun Sri Lanka, yang juga merupakan Pengerusi baharu AOSSG bagi tahun 2021-2023.

Dalam mesyuarat ini, MASB selaku ketua Kumpulan Kerja AOSSG bagi projek Kewangan Islam, telah membentangkan pandangan kumpulan mengenai 'Kewangan Islam – Penerimaan pakai IFRS 17 dan Takaful'.
Selain itu, MASB turut membentangkan Kertas Bersama dengan Lembaga Piawaian Perakaunan Australia (AASB) yang bertajuk 'Pengajaran yang diperoleh daripada pelepasan peralihan dan kemudahan praktikal IFRS 16 Pajakan'.

MASB selaku ketua Kumpulan Kerja AOSSG bagi projek IFRS untuk SME juga telah membentangkan pandangan kumpulan mengenai Draf Pendedahan IASB ED/2021/7 Anak Syarikat tanpa Kebertanggungjawaban Awam: Pendedahan dalam mesyuarat Kumpulan Kerja AOSSG yang telah diadakan pada bulan November.
Pada tahun 2021, MASB telah diwakili oleh Pengarah Eksekutif, Puan Tan Bee Leng dalam beberapa mesyuarat Majlis Penasihat IFRS.

Majlis Penasihat IFRS adalah badan penasihat rasmi IASB dan Pemegang Amanah IFRSF yang terdiri daripada 50 anggota individu.
Antara topik utama yang dibincangkan dalam mesyuarat ini Puan Tan juga dilantik atas kapasiti individu sebagai ahli Kumpulan Penasihat Teknikal (TAG) Pelaporan Kewangan Antarabangsa Untuk Organisasi Bukan-Untung (IFR4NPO), satu inisiatif yang dipengerusikan oleh Institut Kewangan Awam dan Perakaunan Berkanun (CIPFA).
Beberapa mesyuarat TAG IFR4NPO telah diadakan secara 2 0 2 1 Yayasan Laporan Kewangan 14 Kesimpulan ingin menyampaikan Saya setinggi-tinggi penghargaan kepada ahli Yayasan dan Lembaga MASB atas panduan, sokongan, pandangan dan usaha mereka sebagai satu pasukan.

Semua ini amat bernilai bagi saya.

Penghargaan yang tidak terhingga juga kepada kakitangan Sekretariat MASB atas kecekalan dan kebolehupayaan mereka dalam memastikan objektif MASB dicapai dalam waktu yang luar biasa ini.

Syabas diucapkan.
Syabas diucapkan.

Marilah kita bersama meningkatkan usaha.

Akhir kata, terima kasih yang tidak terhingga kepada semua pihak berkepentingan, khususnya Kementerian Kewangan Malaysia, pengawal selia, badan profesional, ahli akademik, firma perakaunan, ahli kumpulan kerja dan sektor komersial atas usaha dan sokongan mereka.
Datuk Mohd Nasir Ahmad Pengerusi Lembaga Piawaian Perakaunan Malaysia 8 Mac 2022 Penyata Pengerusi tahun maya pada ini untuk membincangkan beberapa topik, antaranya, Kertas Perundingan IFR4NPO.

Subjek semakin mendapat ini perhatian memandangkan terdapatnya pelaporan kewangan yang tidak konsisten bagi organisasi bukan-untung (NPO) dan dengan itu, pandangan penetap individu piawaian nasional tujuan pembangunan panduan pelaporan antarabangsa untuk NPO.
telah diminta bagi berpengalaman daripada Keutamaan bagi tahun 2022 Kami menjangkakan tahun 2022 akan menjadi tahun yang mencabar dan penuh peristiwa seperti tahun lalu.

Pada tahun 2021, kami telah memberikan maklum balas ke atas Permohonan Maklumat IASB: Perundingan Agenda Ketiga yang mana kami berharap akan membantu membentuk pemikiran IASB dalam menentukan bagaimana mengutamakan aktiviti dan projek baharu IASB dalam pelan kerjanya bagi tahun 2022 sehingga 2026.
Pastinya menarik untuk melihat apakah projek baharu dan penting yang bakal dipertimbangkan oleh IASB.

Walau bagaimanapun, untuk tahun akan datang, kapasiti IASB dan MASB akan dipenuhi dengan memuktamadkan projek yang sudah berjalan dan mengusahakan semakan pasca pelaksanaan.

Kami juga akan terus menyokong aplikasi dan pelaksanaan piawaian sedia ada dan baharu sementara meningkatkan penglibatan dengan pelbagai berkepentingan menerusi aktiviti jangkauan luar kami.
Seperti biasa, kami mengalu-alukan penglibatan anda dalam proses wajar penetapan piawaian MASB.

pihak 15 Yayasan Laporan Kewangan 2 0 2 1 YAYASAN LAPORAN KEWANGAN 2 0 2 1 Yayasan Laporan Kewangan 16 Profil Yayasan Laporan Kewangan Yayasan Laporan Kewangan (FRF) telah ditubuhkan sebagai sebuah badan bebas di bawah Akta Laporan Kewangan 1997 (Akta).

FRF dan Lembaga Piawaian Perakaunan Malaysia (MASB) merupakan sebahagian daripada rangka kerja pelaporan kewangan di Malaysia.
Rangka kerja tersebut mengandungi satu struktur penetapan piawaian bebas dengan perwakilan daripada pihak yang berkaitan dengan proses penetapan piawaian, termasuk penyedia, pengguna, pengawal selia, ahli akademik dan profesion perakaunan.

Sebahagian besar tanggungjawab FRF adalah menubuhkan infrastruktur yang baik dan berkesan untuk rangka kerja pelaporan kewangan dan bertindak sebagai saluran rujukan bagi penggunaan pakai piawaian perakaunan, pernyataan teknikal dan program kerja tahunan MASB.
Selaku pemegang amanah, FRF juga bertanggungjawab terhadap pengawasan prestasi, urusan kewangan dan pembiayaan MASB.

Walau bagaimanapun, ianya tidak bertanggungjawab secara langsung terhadap penetapan piawaian.

Tanggungjawab ini dipikul sepenuhnya oleh MASB.


Fungsi dan kuasa FRF, seperti yang diperuntukkan di bawah Akta, termasuk yang berikut: (a) untuk menyelia penjalanan fungsi oleh MASB; dan (b) untuk melaksanakan apa-apa fungsi lain sebagaimana yang boleh ditetapkan oleh Menteri Kewangan melalui perintah yang disiarkan dalam Warta.
Tanpa mengehadkan keluasan fungsi FRF seperti yang dinyatakan di atas, FRF hendaklah bertanggungjawab: (a) memberikan pandangannya kepada MASB tentang apa-apa perkara yang hendak diusahakan atau dilaksanakan oleh MASB berhubung dengan pembangunan dan penerbitan piawaian perakaunan dan pernyataan teknikal lain; (b) mengkaji semula prestasi MASB; dan (c) bagi segala perkiraan pembiayaan bagi operasi MASB, termasuk meluluskan belanjawan MASB.
FRF terdiri daripada dua belas (12) ahli yang dilantik oleh Menteri Kewangan.
Lapan (8) daripadanya merupakan ex-officio seperti berikut: ● ● ● ● ● ● ● Ketua Setiausaha Perbendaharaan atau wakilnya; Gabenor Bank Negara Malaysia atau wakilnya; Pengerusi Suruhanjaya Sekuriti Malaysia atau wakilnya; Pengerusi Lembaga Pemantauan Audit atau wakilnya; Pendaftar Syarikat atau wakilnya; Ketua Pegawai Eksekutif Bursa Malaysia Berhad atau wakilnya; Presiden Institut Akauntan Malaysia atau wakilnya yang hendaklah merupakan seorang anggota majlis bagi Institut Akauntan Malaysia; dan ● Pengerusi MASB.
Baki empat (4) ahli hendaklah yang mempunyai pengetahuan dan pengalaman dalam perkara berkenaan perakaunan kewangan dan dalam satu atau lebih bidang berikut: ● ● ● ● perakaunan; undang-undang; perniagaan; atau kewangan.
17 Yayasan Laporan Kewangan 2 0 2 1 Datuk Mohd Nasir Ahmad (Dilantik pada 1 Mei 2021) Pengerusi, Lembaga Piawaian Perakaunan Malaysia Encik Mohamed Raslan Abdul Rahman (Bersara pada 30 April 2021) Pengerusi Terdahulu, Lembaga Piawaian Perakaunan Malaysia Encik Sridharan Nair PricewaterhouseCoopers Naib Pengerusi – Pasaran, Asia Pasifik Encik Jalalullail Othman Rakan Kongsi Kanan, Shook Lin & Bok Puan Anne Rodrigues Pengarah Bukan Eksekutif Bebas, Kuala Lumpur Kepong Berhad Ahli Yayasan Laporan Kewangan Ahli FRF sejak laporan terakhir adalah seperti berikut: Dato’ Zainal Abidin Putih (Dilantik pada 1 Julai 2021) Pengerusi Tan Sri Azlan Zainol (Bersara pada 30 Jun 2021) Pengerusi Terdahulu Puan Noor Zuraini binti Aziz (Dilantik pada 1 Mei 2021) Ketua Seksyen, Bahagian Cukai, Kementerian Kewangan Malaysia Puan Mahfuzah binti Baharin (Bersara pada 30 April 2021) Timbalan Setiausaha, Bahagian Cukai, Kementerian Kewangan Malaysia Encik Aznan Abdul Aziz Penolong Gabenor, Bank Negara Malaysia Datuk Syed Zaid Albar Pengerusi Eksekutif, Suruhanjaya Sekuriti Malaysia Dato’ Anantham Kasinather (Dilantik pada 1 Februari 2021) Pengerusi Bukan Eksekutif, Lembaga Pemantauan Audit Datuk Nor Azimah binti Abdul Aziz Ketua Pegawai Eksekutif, Suruhanjaya Syarikat Malaysia Datuk Muhamad Umar Swift Ketua Pegawai Eksekutif, Bursa Malaysia Berhad Dr. Veerinderjeet Singh Presiden, Institut Akauntan Malaysia 2 0 2 1 Yayasan Laporan Kewangan 18 Ahli Jawatankuasa Yayasan Laporan Kewangan Jawatankuasa Eksekutif Jawatankuasa Perolehan Dato’ Zainal Abidin Putih – Pengerusi (Dilantik pada 1 Julai 2021) Puan Noor Zuraini binti Aziz – Pengerusi (Dilantik pada 1 Mei 2021) Tan Sri Azlan Zainol (Bersara pada 30 Jun 2021) Puan Noor Zuraini binti Aziz (Dilantik pada 1 Mei 2021) Puan Mahfuzah binti Baharin (Bersara pada 30 April 2021) Datuk Syed Zaid Albar Datuk Muhamad Umar Swift Datuk Mohd Nasir Ahmad (Dilantik pada 1 Mei 2021) Encik Mohamed Raslan Abdul Rahman (Bersara pada 30 April 2021) Jawatankuasa Pencalonan Datuk Syed Zaid Albar – Pengerusi Puan
 Mahfuzah binti Baharin (Bersara pada 30 April 2021) Datuk Syed Zaid Albar Encik Aznan Abdul Aziz Datuk Muhamad Umar Swift Jawatankuasa Sebut Harga Datuk Mohd Nasir Ahmad – Pengerusi (Dilantik pada 1 Mei 2021) Encik Mohamed Raslan Abdul Rahman (Bersara pada 30 April 2021) Puan Noor Zuraini binti Aziz (Dilantik pada 1 Mei 2021) Puan Mahfuzah binti Baharin (Bersara pada 30 April 2021) Encik Aznan Abdul Aziz Encik Jalalullail Othman Puan Anne Rodrigues Dato’ Zainal Abidin Putih (Dilantik pada 1 Julai 2021) Tan Sri Azlan Zainol (Bersara pada 30 Jun 2021) Datuk Mohd Nasir Ahmad (Dilantik pada 1 Mei 2021) Encik Mohamed Raslan Abdul Rahman (Bersara pada 30 April 2021) Jawatankuasa Audit Dr. Veerinderjeet Singh – Pengerusi Dato’ Anantham Kasinather (Dilantik pada 1 Februari 2021) Encik Sridharan Nair Encik Jalalullail Othman 19 Yayasan Laporan Kewangan 2 0 2 1 PROFIL AHLI Yayasan Laporan Kewangan 2 0 2 1 Yayasan Laporan Kewangan 20 PROFIL AHLI Encik Jalalullail Othman Rakan Kongsi Kanan, Shook Lin & Bok 3 Dato’ Anantham Kasinather Pengerusi Bukan Eksekutif, Lembaga Pemantauan Audit 5 Encik Aznan Abdul Aziz Penolong Gabenor, Bank Negara Malaysia 2 Datuk Mohd Nasir Ahmad Pengerusi, Lembaga Piawaian Perakaunan Malaysia 4 Datuk Syed Zaid Albar Pengerusi Eksekutif, Sekuriti Suruhanjaya Malaysia 6 Dato’ Zainal Abidin Putih Pengerusi, Yayasan Laporan Kewangan 21 Yayasan Laporan Kewangan 2 0 2 1 PROFIL AHLI 7 8 8 9 10 10 11 12 7 Puan Noor Zuraini binti 9 Datuk Nor Azimah binti 11 Encik Sridharan Nair Aziz Ketua Seksyen, Bahagian Cukai,Kementerian Kewangan Malaysia Abdul Aziz Ketua Pegawai Eksekutif, Suruhanjaya Syarikat Malaysia PricewaterhouseCoopers Naib Pengerusi – Pasaran, Asia Pasifik 8 Datuk Muhamad Umar 10 Dr. Veerinderjeet Singh 12 Puan Anne Rodrigues Swift Ketua Pegawai Eksekutif, Bursa Malaysia Berhad Presiden, Institut Akauntan Malaysia Pengarah Bukan Eksekutif Bebas, Kuala Lumpur Kepong Berhad 2 0 2 1 Yayasan Laporan Kewangan 22 Profil Ahli DATO’ ZAINAL
 ABIDIN PUTIH Pengerusi, Yayasan Laporan Kewangan Dato’ Zainal Abidin Putih ialah seorang Felow Institut Akauntan Berkanun England dan Wales (ICAEW), Ahli Institut Akauntan Awam Bertauliah Malaysia (MICPA) dan Ahli Institut Akauntan Malaysia (MIA).
Selepas mendapat kelayakan daripada ICAEW, Dato’ Zainal mula berkhidmat dengan firma Tetuan Hanafiah, Raslan & Mohamad, yang telah digabungkan dengan Ernst & Young pada Julai 2002.

Beliau berpengalaman luas dalam bidang audit, dan pernah berkhidmat sebagai akauntan pengamal sepanjang kerjayanya yang meliputi pelbagai industri seperti bank, insurans, tenaga, pengangkutan, pembuatan, agensi kerajaan, perladangan, harta tanah, perhotelan, syarikat pelaburan dan amanah saham.
Dato’ Zainal juga berpengalaman dalam urusan percukaian dan perundingan pengurusan, terutamanya dalam bidang perolehan, pengambilalihan, penggabungan, penstrukturan semula dan penyenaraian awam syarikat.

Dato’ Zainal memainkan peranan aktif dalam komuniti dan dunia korporat, sebagai seorang mantan Presiden MICPA, mantan Pengerusi Pengurusan Danaharta Nasional Berhad, serta mantan Pengerusi Lembaga Piawaian Perakaunan Malaysia (MASB).
Beliau pernah menjadi ahli Suruhanjaya Komunikasi dan Multimedia Malaysia (sebuah badan yang ditubuhkan oleh Kerajaan Malaysia bagi menyelia pembangunan teratur industri multimedia dan telekomunikasi di Malaysia) dan juga pernah menjadi ahli Panel Pelaburan Kumpulan Wang Simpanan Pekerja (KWSP).

Dato’ Zainal mempunyai lebih daripada 45 tahun pengalaman di pelbagai kapasiti dalam sektor korporat dan merupakan mantan Pengerusi CIMB Bank Berhad sehingga persaraan beliau pada bulan Jun 2020.
Beliau kini ialah Pengerusi Land and General Berhad, Touch ‘n Go Sdn Bhd dan Tokio Marine Insurans (Malaysia) Berhad.

Beliau juga menganggotai lembaga pengarah Khazanah Nasional Berhad, Petron Malaysia Refining & Marketing Berhad, dan lembaga pengarah bagi beberapa syarikat sendirian berhad.

Dato’ Zainal ialah Pemegang Amanah Yayasan IJN dan Pemegang Amanah Yayasan Universiti Multimedia (YUM).
PUAN NOOR ZURAINI BINTI AZIZ Ketua Seksyen, Bahagian Cukai, Kementerian Kewangan Malaysia Puan Noor Zuraini Aziz memulakan kerjaya beliau dalam perkhidmatan awam dengan Kementerian Pembangunan Usahawan dan Koperasi pada tahun 2002.

Beliau telah berkhidmat dengan pelbagai Kementerian dan Jabatan sepanjang kerjayanya dan kini merupakan Ketua Seksyen Perkilangan di Bahagian Cukai, Kementerian Kewangan Malaysia.
Puan Noor Zuraini memiliki Sarjana Perakaunan Forensik dan Kriminologi daripada Universiti Teknologi MARA.

23 Yayasan Laporan Kewangan 2 0 2 1 Profil Ahli ENCIK AZNAN ABDUL AZIZ Penolong Gabenor, Bank Negara Malaysia Encik Aznan Abdul Aziz merupakan Penolong Gabenor di Bank Negara Malaysia.
Beliau bertanggungjawab terhadap Jabatan Pemantauan Perkhidmatan Pembayaran, Jabatan Penyeliaan Konglomerat Kewangan, Jabatan Penyeliaan Perbankan, Jabatan Penyeliaan Insurans dan Takaful serta Jabatan Pakar Risiko dan Penyeliaan Teknologi.
Sebelum dilantik menjadi Penolong Gabenor, beliau berkhidmat di beberapa jabatan di Bank termasuk Penyeliaan Konglomerat Kewangan, Pejabat Gabenor, Perbankan Islam dan Takaful, Pembangunan Sektor Kewangan, Unit Perisikan Kewangan, Pemantauan dan Pengawasan Kewangan, dan Pengawalan Bank.

Beliau juga pernah berkhidmat sebagai Pengerusi Financial Technology Enabler Group (FTEG) yang bertanggungjawab merangka strategi dan dasar kawal selia untuk memudahkan penggunaan teknologi dalam perkhidmatan kewangan.
Sebelum menyertai Bank Negara Malaysia, beliau merupakan Penolong Pengurus Besar Danamodal Nasional Berhad, iaitu syarikat tujuan khas yang ditubuhkan untuk permodalan semula institusi kewangan yang bermasalah semasa Krisis Kewangan Asia 1997.

Beliau memiliki ijazah dalam Ekonomi dan Perakaunan daripada University of Bristol, England.
2 0 2 1 Yayasan Laporan Kewangan 24 Profil Ahli DATUK SYED ZAID ALBAR Pengerusi Eksekutif, Suruhanjaya Sekuriti Malaysia Datuk Syed Zaid Albar ialah Pengerusi Eksekutif Suruhanjaya Sekuriti Malaysia (SC).

Sebelum pelantikan beliau sebagai Pengerusi SC pada 1 November 2018, beliau merupakan Rakan Kongsi Urusan untuk firma guaman yang terkemuka di Kuala Lumpur.
Datuk Syed Zaid telah dilantik sebagai Pengerusi Perbadanan Pembangunan Industri Sekuriti (SIDC) pada Januari 2020, sebuah cabang pembelajaran dan pembangunan SC.

Beliau mempengerusikan Lembaga Pemegang Amanah Dana Pembangunan Pasaran Modal (CMDF), sebuah dana berkanun yang telah ditubuhkan pada tahun 2002 dengan objektif untuk membiayai pembangunan dan promosi pasaran modal.
Sebagai Pengerusi Suruhanjaya, Datuk Syed Zaid merupakan ahli Jawatankuasa Eksekutif Kestabilan Kewangan (FSEC), Bank Negara Malaysia yang dipengerusikan oleh Gabenor Bank Negara Malaysia, dan ahli Lembaga Pemegang Amanah Yayasan Pelaporan Kewangan.

Di peringkat antarabangsa, Datuk Syed Zaid pernah menjadi Naib Pengerusi bagi Pasaran Pertumbuhan dan Pesat Membangun (GEM) Organisasi Suruhanjaya Sekuriti Antarabangsa (IOSCO) dari tahun 2019 hingga 2020.
Dari Jun 2020 hingga kini, beliau merupakan wakil Lembaga bagi Jawatankuasa Serantau Asia Pasifik (APRC) IOSCO, dan ahli Lembaga Pentadbir IOSCO, badan global bagi pengawal selia pasaran modal dunia.

Beliau juga merupakan Naib Pengerusi Jawatankuasa Pengurusan Hab Asia Pasifik IOSCO yang berpangkalan di Kuala Lumpur.

Datuk Syed Zaid juga mewakili SC dalam Forum Pasaran Modal ASEAN (ACMF).

Datuk Syed Zaid merupakan Peguam di Lincoln’s Inn, UK.

Beliau berkelulusan ijazah undang-undang dari United Kingdom.
Sebelum menyertai SC, beliau adalah pengamal undang-undang aktif dengan lebih 38 tahun pengalaman terutamanya dalam bidang undang-undang korporat, perbankan dan pasaran modal (hutang dan ekuiti), dalam lapangan kewangan konvensional dan Islam.

Sumbangan dan pencapaian beliau dalam amalan perundangan turut diiktiraf menerusi pelbagai anugerah di peringkat tempatan dan antarabangsa.
DATO' ANANTHAM KASINATHER Pengerusi Bukan Eksekutif, Lembaga Pemantauan Audit Dato’ Anantham Kasinather mempunyai lebih daripada 40 tahun pengalaman dalam sektor swasta, setelah memulakan kerjayanya di Skrine, dan mengamal dalam pelbagai bidang undang-undang komersial.

Beliau pernah menjadi peguam di Mahkamah Tinggi Malaya, Sabah dan Sarawak, Mahkamah Rayuan dan Mahkamah Persekutuan Malaysia.
Dato’ Anantham kini merupakan perunding bagi Sree Harry & Co. Dato’ Anantham pernah berkhidmat dengan badan kehakiman di mana beliau telah dilantik sebagai Hakim Mahkamah Tinggi Malaya pada tahun 2009 dan dinaikkan ke Mahkamah Rayuan pada tahun 2010 sebelum bersara daripada perkhidmatan kehakiman pada Mei 2014.

Beliau telah dilantik sebagai Penimbang Tara untuk Pusat Timbang Tara Antarabangsa Asia pada tahun 2010.
Kini, beliau merupakan salah seorang daripada empat wakil Kerajaan Malaysia ke Mahkamah Timbang Tara Tetap.

Dato’ Anantham merupakan Felow Institut Timbang Tara Malaysia.

Beliau juga ialah Pengerusi Bukan Eksekutif, Lembaga Pemantauan Audit, Suruhanjaya Sekuriti Malaysia.

Beliau memegang Ijazah Sarjana Muda Undang-Undang LLB (Kepujian) daripada National University of Singapore.
25 Yayasan Laporan Kewangan 2 0 2 1 Profil Ahli DATUK NOR AZIMAH BINTI ABDUL AZIZ Ketua Pegawai Eksekutif, Suruhanjaya Syarikat Malaysia Datuk Nor Azimah Abdul Aziz merupakan Ketua Pegawai Eksekutif Suruhanjaya Syarikat Malaysia (SSM).
Sebelum pelantikan beliau sebagai Ketua Pegawai Eksekutif pada 1 Mei 2020, beliau merupakan Timbalan Ketua Pegawai Eksekutif, Kawal Selia dan Penguatkuasaan dan seterusnya menyandang jawatan sebagai Timbalan Ketua Pegawai Eksekutif Perkhidmatan Korporat antara tahun 2016 dan 2020.

Kerjaya beliau bermula pada tahun 1992 sebagai Peguam Bela dan Peguam Cara dan seterusnya berkhidmat sebagai Pensyarah Undang-Undang di Jabatan Perakaunan, Fakulti Perniagaan dan Pengurusan, Universiti Kebangsaan Malaysia (UKM).
Sewaktu berkhidmat di UKM, beliau telah dipinjamkan ke Jabatan Kawal Selia dan Piawaian di Institut Akauntan Malaysia (MIA) pada Julai 2000.

Nor Azimah mula berkhidmat dengan SSM sebagai Pengurus Besar di Jabatan Polisi, Perancangan dan Pembangunan Korporat pada tahun 2003.
Berpengalaman luas dalam inisiatif reformasi undang-undang dan telah menyelia pembangunan perundangan yang penting di bawah bidang kuasa SSM antaranya Akta Syarikat 2016, Akta Skim Kepentingan 2016, Akta Perkongsian Liabiliti Terhad 2012 dan Akta Syarikat (Pindaan) 2007.
Beliau kini merupakan ahli Lembaga Pemantauan Audit (AOB), ahli Lembaga Pentauliahan Pegawai Integriti Bertauliah (CEIO), ahli Lembaga Yayasan Laporan Kewangan (FRF), ahli Jawatankuasa Kelulusan dan Pelaksanaan Pihak Berkuasa Wilayah Pembangunan Iskandar (IRDA) dan beliau juga merupakan Ahli Lembaga Perkhidmatan Kewangan Labuan (Labuan FSA).
Beliau berkelulusan Undang-Undang daripada Institut Teknologi MARA (kini Universiti Teknologi MARA atau UiTM) dan memperoleh Ijazah Sarjana Undang-Undang daripada University of Wales, Aberystwyth, United Kingdom.

2 0 2 1 Yayasan Laporan Kewangan 26 Profil Ahli DATUK MUHAMAD UMAR SWIFT Ketua Pegawai Eksekutif, Bursa Malaysia Berhad Datuk Muhamad Umar Swift, merupakan residen tetap Malaysia yang berusia 57 tahun.
Beliau menamatkan pengajian dengan ijazah Sarjana Muda Ekonomi daripada Monash University, Australia dan merupakan Felow Akauntan Bertauliah Australia dan New Zealand, Felow CPA Australia, Penasihat Cukai Bertauliah Institut Cukai Australia, dan Felow Institut Perkhidmatan Kewangan Australasia (FINSIA) di Australia.

Beliau juga merupakan Akauntan Bertauliah Institut Akauntan Malaysia (MIA), dan seorang Perancang Kewangan Berdaftar.
Datuk Umar mempunyai lebih 25 tahun pengalaman dalam bidang perbankan dan perkhidmatan kewangan.

Beliau memulakan kerjayanya dengan Price Waterhouse Chartered Accountants pada tahun 1986 dan kemudiannya menyertai bahagian Kewangan Korporat, Bank of Singapore (Australia) Limited pada tahun 1992 di mana beliau telah mengembangkan kerjaya perbankan beliau dengan memegang pelbagai jawatan sebelum menyertai Gas Malaysia Sdn.

Bhd.

sebagai Pengurus Besar, Kewangan Korporat pada tahun 1996.
Setahun kemudian, beliau dinaikkan pangkat sebagai Ketua Pegawai Eksekutif, Gas Malaysia.

Datuk Umar memegang jawatan sebagai Ketua Praktik Perniagaan Utiliti, Deloitte Consulting Malaysia pada tahun 2002, sebelum kembali semula ke industri perkhidmatan kewangan sebagai Timbalan Naib Eksekutif – Ketua, Kumpulan Perkhidmatan Kewangan Perusahaan Maybank pada tahun 2004.
Pada tahun 2006, beliau telah dilantik sebagai Ketua Pegawai Eksekutif / Pengarah Urusan Kumpulan MAA Group Berhad, di mana beliau juga memikul peranan sebagai Ketua Pegawai Eksekutif, Malaysian Assurance Alliance Berhad (kini dikenali sebagai Zurich Insurance Malaysia Berhad).
Kini, Datuk Umar memegang jawatan sebagai Ketua Pegawai Eksekutif, Bursa Malaysia Berhad, di mana beliau bertanggungjawab memimpin Bursa ke arah visi untuk menjadi pasaran terulung ASEAN, mampan dan mempunyai jalinan hubungan di peringkat global.

Beliau juga merupakan pengarah bagi semua anak syarikat Kumpulan Bursa Malaysia, dan berkhidmat sebagai Pengerusi Bursa Malaysia Derivatives Berhad dan Bursa Malaysia Derivatives Clearing Berhad.
Datuk Umar menganggotai Lembaga Pengarah Perbadanan Pembangunan Industri Sekuriti dan merupakan ahli ‘Anugerah Kecemerlangan Industri’, iaitu anugerah pengiktirafan korporat ulung Malaysia yang diperkenalkan oleh Kementerian Perdagangan Antarabangsa dan Industri untuk memberi pengiktirafan kepada syarikat Malaysia yang cemerlang.
Beliau juga merupakan ahli ex-officio Yayasan Laporan Kewangan dan Ahli Lembaga Pengarah Dana Pembangunan Pasaran Modal (CMDF) di mana kedua-dua keahlian tersebut merupakan lantikan oleh Kementerian Kewangan.

Di samping itu, Datuk Umar juga ialah penasihat untuk UN Global Compact Network Malaysia and Brunei dan menganggotai Jawatankuasa Pemandu Rangkaian Tindakan CEO.
Beliau juga baru-baru ini telah dilantik sebagai Profesor Adjung di Pusat Pengajian Ekonomi, Kewangan dan Perbankan, Universiti Utara Malaysia.

27 Yayasan Laporan Kewangan 2 0 2 1 Profil Ahli DR. VEERINDERJEET SINGH Presiden, Institut Akauntan Malaysia Dr. Veerinderjeet Singh telah dipilih oleh Majlis Institut Akauntan Malaysia (MIA) sebagai Presiden pada 26 September 2020.
Diakui sebagai pakar terulung dalam bidang perakaunan dan percukaian, Dr. Veerinderjeet memulakan penggal beliau dalam Majlis MIA apabila dilantik sebagai ahli pada 25 Mei 2019.

Beliau kini merupakan Presiden Institut Akauntan Awam Bertauliah Malaysia (MICPA) dan Pengerusi Bukan Eksekutif Tricor Services (Malaysia) Sdn Bhd.

Dr. Veerinderjeet juga adalah mantan Presiden Institut Cukai Berkanun Malaysia (CTIM) dari tahun 2007 hingga 2010.
Dengan pelbagai pengalaman luas lebih daripada 40 tahun dalam bidang perakaunan, percukaian dan perdagangan, Dr. Veerinderjeet pernah berkhidmat dengan Jabatan Hasil Dalam Negeri, Universiti Malaya (sebagai Profesor Madya), Arthur Andersen dan Ernst & Young (sebagai Rakan Kongsi Cukai/ Pengarah Eksekutif) dan telah mengarang beberapa penerbitan cukai yang berpengaruh dan berwibawa.

Dr. Veerinderjeet merupakan ahli Lembaga Malaysian Rating Corporation Berhad, AmBank (M) Berhad dan UMW Holdings Berhad.
Beliau juga ialah Profesor Adjung di Universiti Monash, Malaysia dan kini merupakan Pengerusi bagi Lembaga Penasihat Industri Monash Business School.

Di peringkat global, Dr. Veerinderjeet menyumbang kepakarannya sebagai ahli Commission on Taxation of the International Chamber of Commerce yang berpangkalan di Paris dan ahli Lembaga Pemegang Amanah bagi International Bureau of Fiscal Documentation (sebuah badan penyelidikan dan perundingan cukai) yang berpangkalan di Amsterdam.
DATUK MOHD NASIR AHMAD Pengerusi, Lembaga Piawaian Perakaunan Malaysia Datuk Mohd Nasir Ahmad ialah Pengerusi CIMB Group Holdings Berhad.

Beliau mempunyai pengalaman luas dalam bidang kepimpinan, pengurusan, kewangan dan perakaunan yang menjangkau lebih daripada 40 tahun.

Beliau juga kini Pengerusi CIMB Bank Berhad, CIMB Bank PLC (Cambodia) dan CIMB Foundation.
Datuk Mohd Nasir juga adalah pengarah Prokhas Sdn Bhd dan Touch ‘N Go Sdn Bhd di samping menjadi Pemegang Amanah Yayasan Canselor UNITEN dan Yayasan Kepimpinan Perdana.

Beliau merupakan mantan Presiden Institut Akauntan Malaysia (MIA).
2 0 2 1 Yayasan Laporan Kewangan 28 Profil Ahli ENCIK SRIDHARAN NAIR PricewaterhouseCoopers Naib Pengerusi – Pasaran, Asia Pasifik Encik Sridharan Nair (atau lebih dikenali sebagai Sri), merupakan Naib Pengerusi, Pasaran bagi PricewaterhouseCoopers (PwC), Asia Pasifik yang berpangkalan di Kuala Lumpur, Malaysia.

Dalam kapasiti ini, beliau juga merupakan pengerusi bersama Pasukan Eksekutif Asia Pasifik dan ahli Pasukan Kepimpinan Asia Pasifik.
Sri kini juga merupakan ahli Majlis Global Inklusiviti dan Kepelbagaian PwC.

Sri telah menyandang pelbagai jawatan kepimpinan di PwC sebelum beliau memegang jawatan kini pada bulan Julai 2020.

Beliau dahulunya merupakan Rakan Kongsi Kanan bagi firma Malaysia dari tahun 2012 dan firma Malaysia-Vietnam dari tahun 2015.

Beliau juga pernah menjadi Pengerusi Lembaga Pengarah bagi Amalan Perundingan PwC Asia Tenggara dan ahli Lembaga bagi Amalan Perundingan ASEANZ.
Beliau merupakan alumni Universiti Malaya dan berkelayakan sebagai Akauntan Bertauliah di United Kingdom.

Beliau mempunyai pengalaman selama 32 tahun dalam audit dan khidmat nasihat perniagaan, setelah bekerja dengan berbilang klien yang merentasi pelbagai industri di Malaysia.
Sepanjang tempoh perkhidmatan beliau sebagai Rakan Kongsi Kanan, Sri sering menjadi penceramah dan moderator dalam pelbagai persidangan dan forum di Malaysia tentang topik seperti kepimpinan, tadbir urus korporat, isu ekonomi semasa, modal insan dan kepelbagaian.
Atas usaha beliau untuk memacu amalan terbaik dalam membentuk persekitaran tempat kerja yang pelbagai dan inklusif di PwC Malaysia, beliau telah diiktiraf sebagai Juara CEO di Anugerah Life at Work yang pertama oleh kerajaan beberapa tahun yang lepas.

29 Yayasan Laporan Kewangan 2 0 2 1 Profil Ahli ENCIK JALALULLAIL OTHMAN Rakan Kongsi Kanan, Shook Lin & Bok Encik Jal Othman telah dilantik sebagai Pengarah Bebas CIMB Islamic Bank Berhad pada 26 Januari 2018 dan merupakan Ahli Jawatankuasa Risiko Lembaga.
Beliau mengetuai amalan Kewangan Islam di Shook Lin & Bok, salah sebuah firma guaman tertua dan terbesar di Malaysia.

Beliau memainkan peranan penting dalam menubuhkan amalan Kewangan Islam dan terus memacu bidang amalan ini di dalam Firma.

Encik Jal mengetuai sepasukan kira-kira 20 peguam yang memberi nasihat mengenai tawaran kewangan Islam.
Portfolio kerja beliau termasuk memberi khidmat nasihat mengenai pelbagai terbitan sukuk untuk membiayai loji kuasa di Malaysia dan China, pembinaan kapal, pembiayaan projek untuk industri automotif, industri tekstil dan pakaian, industri minyak sawit hiliran dan huluan, memberi nasihat mengenai produk berstruktur Islam dan pembiayaan bersindiket Islam.
Encik Jal juga terlibat secara aktif dalam memacu inovasi dalam industri dan dalam hal ini, beliau mengetuai pasukan yang memberi nasihat mengenai pelbagai pembangunan produk untuk bank Islam, di Malaysia dan di luar negara.

Di samping Kewangan Islam, bidang amalan utama Encik Jal yang lain adalah undang-undang komersil korporat dan harta tanah.
Pengalamannya dalam memberi nasihat mengenai beberapa penggabungan dan pengambilalihan rentas sempadan dan pengambilalihan harta tanah telah memberi manfaat kepadanya dalam peranannya sebagai peguam Kewangan Islam.

Beliau merupakan timbalan ketua jabatan kewangan dan perbankan konvensional di Shook Lin & Bok.

jawatan di Universiti Pusat Pendidikan Kewangan Encik Jal memegang Islam Antarabangsa (INCEIF) (sebuah institusi yang ditubuhkan di bawah naungan Bank Negara Malaysia).
Beliau juga telah ditugaskan oleh Suruhanjaya Sekuriti Malaysia dan Agensi Penarafan Malaysia berkaitan dengan pembangunan produk dan keperluan pengawalseliaan.

Beliau turut terlibat dalam reformasi undang-undang dengan penglibatannya dalam jawatankuasa Bank Negara Malaysia untuk Reformasi Undang-Undang Kewangan Islam.

Encik Jal juga menganggotai jawatankuasa teknikal Lembaga Piawaian Perakaunan Malaysia (MASB) dan Institut Akauntan Malaysia (MIA).
Di samping itu, beliau menjadi moderator bagi Agensi Akreditasi Kewangan (FAA) dan penimbangtara untuk Kewangan Islam bagi Pusat Timbang Tara Serantau Kuala Lumpur (KLRCA).

Beliau juga merupakan penyemak bab dan penyumbang kepada Akademi Penyelidikan Syariah Antarabangsa (ISRA).
Selepas menamatkan pengajian daripada Queen Mary & Westfield College di University of London dan setelah menamatkan peperiksaan Badan Peguam Malaysia, Encik Jal memulakan pelatihan beliau di Shook Lin & Bok dan meneruskan pekerjaannya dengan Firma tersebut, dan kemuncaknya adalah apabila beliau dilantik sebagai rakan kongsi pada tahun 2001.

Beliau terus mara di dalam Firma dengan kenaikan pangkatnya sebagai rakan kongsi kanan Firma pada tahun 2004.
2 0 2 1 Yayasan Laporan Kewangan 30 Profil Ahli PUAN ANNE RODRIGUES Pengarah Bukan Eksekutif Bebas, Kuala Lumpur Kepong Berhad Puan Anne Rodrigues merupakan ahli Institut Akauntan Malaysia dan Felow Persatuan Akauntan Bertauliah Berkanun (ACCA).

Beliau juga memiliki Sarjana dalam Pentadbiran Perniagaan (Cemerlang) daripada University of Bath MIM dan Ijazah Sarjana Muda Ekonomi (Kepujian Kelas 1) daripada Universiti Malaya.
Puan Anne Rodrigues pernah menjadi Ketua Pegawai Kewangan Kumpulan Felda Global Ventures Holdings (FGV) sehingga persaraan beliau secara rasmi pada Disember 2010.

Selepas itu, beliau terus berkhidmat sebagai Penasihat Kewangan di FGV dan juga telah ditugaskan ke Boston sebagai Ketua Pegawai Kewangan TRT Holdings, Boston USA.

Beliau bersara pada Disember 2012.


Beliau mempunyai lebih daripada 30 tahun pengalaman dalam sektor kewangan, pernah dilantik sebagai Bendahari Korporat dan kemudiannya sebagai Pengarah Kewangan Malaysia International Shipping Corporation dan terdahulunya sebagai Pengurus Kewangan, Boustead Travel Sdn.

Bhd.

Puan Anne Rodrigues kini adalah Pengarah Bukan Eksekutif Bebas bagi Lembaga Kuala Lumpur Kepong Berhad dan merupakan ahli Jawatankuasa Audit Lembaga tersebut.
31 Yayasan Laporan Kewangan 2 0 2 1 LEMBAGA PIAWAIAN PERAKAUNAN MALAYSIA 2 0 2 1 Yayasan Laporan Kewangan 32 Profil Lembaga Piawaian Perakaunan Malaysia Lembaga Piawaian Perakaunan Malaysia (MASB) telah ditubuhkan di bawah Akta Laporan Kewangan 1997 (Akta) sebagai badan penetapan piawaian FRF yang fungsinya adalah menentukan dan mengeluarkan piawaian perakaunan bagi penyediaan penyata kewangan yang dikehendaki untuk disediakan atau diserahkan di bawah mana-mana undang-undang yang ditadbir oleh Suruhanjaya Sekuriti Malaysia, Bank Negara Malaysia atau Pendaftar Syarikat.
Tanpa mengehadkan keluasan fungsi MASB seperti yang disebut di atas, MASB hendaklah bertanggungjawab: (a) mengeluarkan piawaian perakaunan baharu sebagai piawaian perakaunan diluluskan; (b) mengkaji semula, menyemak, atau menerima pakai sebagai piawaian perakaunan diluluskan, piawaian perakaunan yang sedia ada; (c) meminda, menggantikan, menggantung, menunda, menarik balik atau membatalkan apa-apa piawaian perakaunan diluluskan keseluruhannya atau sebahagiannya; (d) mengeluarkan, meluluskan, mengkaji semula, menyemak, meminda, menggantikan, menggantung, menunda, menarik balik atau membatalkan apa-apa buletin isu keseluruhannya atau sebahagiannya; (e) mengeluarkan, meluluskan, mengkaji semula, menyemak, meminda, menggantikan, menggantung, menunda, menarik balik atau membatalkan apa-apa pernyataan tentang prinsip, apa-apa keluaran teknikal dan keluaran lain dan apa-apa dokumen lain yang berhubungan dengan laporan kewangan walau dikenali dengan apa nama jua pun keseluruhannya atau sebahagiannya; (f) menaja atau mengusahakan pembangunan piawaian perakaunan yang berkemungkinan; (g) bekerjasama dengan penetap piawaian perakaunan kebangsaan dan antarabangsa lain dan mengawasi pembangunan piawaian perakaunan kebangsaan dan antarabangsa lain; (h) mengambil bahagian dalam dan menyumbang kepada pembangunan suatu set tunggal piawaian perakaunan bagi kegunaan antarabangsa; (i) (j) mengendalikan apa-apa perundingan awam yang perlu untuk menentukan kandungan konsep, prinsip dan piawaian perakaunan; membangunkan suatu rangka kerja konsep bagi maksud menilai piawaian perakaunan yang dicadangkan; (k) membuat apa-apa perubahan kepada bentuk dan kandungan piawaian perakaunan yang dicadangkan sebagaimana yang dianggapnya perlu; (l) mengawasi pengendalian piawaian perakaunan diluluskan untuk menilai keberterusan kaitannya dan keberkesanannya; dan (m) melaksanakan apa-apa fungsi lain sebagaimana yang boleh ditetapkan oleh Menteri Kewangan melalui perintah yang disiarkan dalam Warta.
Komposisi ahli terdiri daripada tokoh korporat terkemuka dalam profesion perakaunan, perniagaan dan kewangan.

Lapan (8) ahli Lembaga dilantik oleh Menteri Kewangan, dan terdiri daripada: ● Pengerusi MASB; ● Akauntan Negara; dan ● enam (6) ahli lain yang berpengetahuan dan berpengalaman dalam perkara berkenaan perakaunan dan pelaporan kewangan, dan dalam satu atau lebih bidang perakaunan, undang-undang, perniagaan dan kewangan.
Di samping itu, tiga (3) penasihat dilantik oleh Menteri Kewangan, yang mana setiap satunya daripada: ● Suruhanjaya Sekuriti Malaysia; ● Bank Negara Malaysia; dan ● Pendaftar Syarikat.

33 Yayasan Laporan Kewangan 2 0 2 1 Objektif Lembaga Piawaian Perakaunan Malaysia Misi MASB adalah untuk membangunkan dan menggalakkan piawaian perakaunan dan pelaporan kewangan berkualiti tinggi yang konsisten dengan amalan terbaik antarabangsa untuk manfaat pengguna, penyedia, juruaudit dan pihak awam di Malaysia.
Dalam konteks yang lebih luas, MASB berusaha untuk mengambil bahagian dalam dan menyumbang kepada pembangunan satu set piawaian pelaporan kewangan untuk kegunaan antarabangsa.
Dalam usaha misi itu, MASB dipandu oleh satu set objektif polisi yang jelas: (a) (b) (c) (d) untuk menghasilkan piawaian perakaunan yang berkualiti tinggi untuk pelaporan kewangan bagi manfaat pengguna, penyedia, juruaudit dan pihak awam; untuk mengambil bahagian dan menyumbang kepada proses penetapan piawaian Lembaga Piawaian Perakaunan Antarabangsa (IASB) dalam pembangunan satu set piawaian pelaporan kewangan berkualiti tinggi yang diterima global untuk kegunaan antarabangsa; untuk bekerjasama dengan penetap piawaian nasional lain bagi pembangunan piawaian pelaporan kewangan yang diterima global untuk kegunaan antarabangsa; untuk menggalakkan penggunaan dan mendapatkan pandangan berkenaan aplikasi piawaian perakaunan dan pelaporan kewangan melalui penglibatan dan penyebaran maklumat kepada pengguna, penyedia, juruaudit dan pihak awam; (e) untuk menggalakkan dan menyokong kajian dalam bidang pelaporan kewangan, khasnya bagi pasaran yang sedang meningkat naik dan pasaran Islam; dan (f) untuk memantau aplikasi piawaian perakaunan diluluskan MASB.
2 0 2 1 Yayasan Laporan Kewangan 34 Ahli dan Penasihat Lembaga Piawaian Perakaunan Malaysia Ahli dan Penasihat MASB sejak laporan terakhir adalah seperti berikut: Ahli Penasihat Encik Alex Ooi Thiam Poh Suruhanjaya Sekuriti Malaysia Puan Jessica Chew Cheng Lian Bank Negara Malaysia Encik Yap Weng Seong Suruhanjaya Syarikat Malaysia Datuk Mohd Nasir Ahmad (Dilantik pada 1 Mei 2021) Pengerusi Encik Mohamed Raslan Abdul Rahman (Bersara pada 30 April 2021) Pengerusi Terdahulu Datuk Dr. Yacob bin Mustafa Akauntan Negara Malaysia, Jabatan Akauntan Negara Malaysia Encik Chan Hooi Lam Rakan Kongsi, Ketua Asurans Perkhidmatan Kewangan Malaysia dan ASEAN, Ernst & Young Encik Lee Kong Weng Rakan Kongsi, Audit & Asurans, Baker Tilly Malaysia Tuan Syed Ahmad Taufik Albar (Dilantik pada 1 September 2021) Pengarah Urusan, Kumpulan Perniagaan Antarabangsa, Kumpulan Perbankan RHB Dato’ Mohamed Rafique Merican bin Mohd Wahiduddin Merican (Bersara pada 31 Ogos 2021) Ketua Pegawai Eksekutif Kumpulan, Perbankan Islam, Maybank Ketua Pegawai Eksekutif, Maybank Islamic Berhad Tengku Dato’ Sri Azmil Zahruddin Raja Abdul Aziz Ketua Pegawai Pelaburan, Khazanah Nasional Berhad Dato’ Soo Chan Fai Pengawal Kewangan Kumpulan, Eco World Development Group Berhad Encik New Kheng Chee Ketua Pegawai Kewangan, Prudential BSN Takaful Berhad 35 Yayasan Laporan Kewangan 2 0 2 1 PROFIL AHLI DAN PENASIHAT Lembaga Piawaian Perakaunan Malaysia 2 0 2 1 Yayasan Laporan Kewangan 36 PROFIL AHLI DAN PENASIHAT Encik Yap Weng Seong Suruhanjaya Syarikat Malaysia 3 Dato' Soo Chan Fai 5 Encik Chan Hooi Lam Pengawal Kewangan Kumpulan, Eco World Development Group Berhad Rakan Kongsi, Ketua Asurans Perkhidmatan Kewangan Malaysia dan ASEAN, Ernst & Young 2 Puan Jessica Chew 4 Tuan Syed Ahmad 6 Datuk Mohd Nasir Ahmad Cheng Lian Bank Negara Malaysia Taufik Albar Pengarah Urusan, Kumpulan Perniagaan Antarabangsa, Kumpulan Perbankan RHB Pengerusi, Lembaga Piawaian Perakaunan Malaysia 37 Yayasan Laporan Kewangan 2 0 2 1 PROFIL AHLI DAN PENASIHAT 7 8 10 9 11 7 Datuk Dr. Yacob bin 9 Tengku Dato' Sri Azmil Mustafa Akauntan Negara Malaysia, Jabatan Akauntan Negara Malaysia Zahruddin Raja Abdul Aziz Ketua Pegawai Pelaburan, Khazanah Nasional Berhad 11 Encik Alex Ooi Thiam Poh Suruhanjaya Sekuriti Malaysia 8 Encik Lee Kong Weng Rakan Kongsi, Audit & Asurans, Baker Tilly Malaysia 10 Encik New Kheng Chee Ketua Pegawai Kewangan, Prudential BSN Takaful Berhad 2 0 2 1 Yayasan Laporan Kewangan 38 Profil Ahli DATUK MOHD NASIR AHMAD Pengerusi, Lembaga Piawaian Perakaunan Malaysia Datuk Mohd Nasir Ahmad ialah Pengerusi CIMB Group Holdings Berhad.
Beliau mempunyai pengalaman luas dalam bidang kepimpinan, pengurusan, kewangan dan perakaunan yang menjangkau lebih daripada 40 tahun.

Beliau juga kini Pengerusi CIMB Bank Berhad, CIMB Bank PLC (Cambodia) dan CIMB Foundation.

Datuk Mohd Nasir juga adalah pengarah Prokhas Sdn Bhd dan Touch ‘N Go Sdn Bhd di samping menjadi Pemegang Amanah Yayasan Canselor UNITEN dan Yayasan Kepimpinan Perdana.

Beliau merupakan mantan Presiden Institut Akauntan Malaysia (MIA).
DATUK DR. YACOB BIN MUSTAFA Akauntan Negara Malaysia, Jabatan Akauntan Negara Malaysia Datuk Dr. Yacob bin Mustafa merupakan Akauntan Negara Malaysia.

Beliau juga merupakan Akauntan Bertauliah (Malaysia), Felow Akauntan Pengamal Bertauliah (Australia) dan Akauntan Kewangan Awam Bertauliah (United Kingdom).

Sebelum menyandang jawatan terkini, beliau merupakan Timbalan Akauntan Negara (Korporat), dan Timbalan Akauntan Negara (Operasi) di Jabatan Akauntan Negara Malaysia.
Perjalanan kerjaya beliau menjangkau lebih 30 tahun berkhidmat dalam pelbagai jabatan dan agensi kerajaan.

Pada masa ini, Datuk Dr. Yacob berkhidmat sebagai Ahli Lembaga Pengarah Lembaga Pembiayaan Perumahan Sektor Awam (LPPSA), Perbadanan Insurans Deposit Malaysia (PIDM), DanaInfra Nasional Berhad (DanaInfra), Lembaga Hasil Dalam Negeri Malaysia (LHDNM), Kumpulan Wang Persaraan (Diperbadankan) (KWAP) dan Prasarana Malaysia Berhad (Prasarana).
Beliau memegang Ijazah Perakaunan daripada Universiti Malaya, Ijazah Sarjana Pentadbiran Perniagaan serta PhD dalam Ekonomi daripada Universiti Kebangsaan Malaysia.

39 Yayasan Laporan Kewangan 2 0 2 1 Profil Ahli ENCIK CHAN HOOI LAM Rakan Kongsi, Ketua Asurans Perkhidmatan Kewangan Malaysia dan ASEAN, Ernst & Young Encik Chan Hooi Lam mempunyai lebih 27 tahun pengalaman dalam menyediakan perkhidmatan asurans dan khidmat nasihat, terutamanya dalam industri perkhidmatan kewangan.
Beliau merupakan Ketua Asurans Perkhidmatan Kewangan Malaysia dan ASEAN, Ernst & Young.

Pengalaman beliau termasuk audit dan kerja khidmat nasihat khusus untuk kumpulan perbankan yang besar, bank pelaburan, syarikat gadai janji, institusi kewangan, broker, syarikat pengurusan aset, pemohon lesen bank digital, bursa saham bersepadu dan perbadanan insurans deposit.
Encik Chan menasihati pelanggan tentang pengolahan perakaunan yang sesuai bagi pelbagai tugasan termasuk yang melibatkan penerbitan instrumen kewangan, pembiayaan berstruktur, pensekuritian, lindung nilai ekonomi dan perakaunan lindung nilai, penilaian kemerosotan kolektif dan individu, penggabungan dan pengambilalihan, bayaran berasaskan saham, instrumen modal kawal selia, instrumen sintetik dan derivatif terbenam, di bawah prinsip konvensional dan prinsip Shariah, di Malaysia dan di luar negara.
Beliau juga turut menasihati dan membantu pelbagai pelanggan berkenaan peralihan dan pelaksanaan Piawaian Pelaporan Kewangan Malaysia (MFRS) dan Piawaian Pelaporan Kewangan Antarabangsa (IFRS), termasuk MFRS 7 Instrumen Kewangan: Pendedahan dan MFRS 139 Instrumen Kewangan: Pengiktirafan dan Pengukuran (Piawaian Malaysia yang setara dengan IFRS 7 Instrumen Kewangan: Pendedahan dan IAS 39 Instrumen Kewangan: Pengiktirafan dan Pengukuran), dan piawaian penggantian IAS 39, iaitu IFRS 9 Instrumen Kewangan, di Malaysia dan rantau Asia.
Sebagai seorang penceramah yang kerap terlibat dalam seminar, persidangan, program latihan, dan kursus MBA, Encik Chan telah berkhidmat sebagai pengurus projek bagi Kumpulan Kerja Lembaga Piawaian Perakaunan Malaysia (MASB) tentang instrumen kewangan, pengadil untuk Anugerah Pelaporan Korporat Tahunan Kebangsaan (NACRA) dan pemeriksa untuk peperiksaan kelayakan profesional.
Beliau menamatkan pengajian di Universiti Malaya dengan Ijazah Sarjana Muda Perakaunan (Kepujian), dan merupakan ahli Institut Akauntan Malaysia (MIA) dan Institut Akauntan Awam Bertauliah Malaysia (MICPA).

ENCIK LEE KONG WENG Rakan Kongsi, Audit & Asurans, Baker Tilly Malaysia Encik Lee Kong Weng ialah Akauntan Bertauliah Institut Akauntan Malaysia (MIA), ahli Institut Akauntan Awam Bertauliah Malaysia (MICPA) serta ahli Akauntan Berkanun Australia & New Zealand (CAANZ).
Beliau memiliki Ijazah Sarjana Muda Perakaunan (Kepujian) daripada Universiti Malaya.

Encik Lee memulakan kerjaya profesionalnya dengan Arthur Andersen & Co (kini digabungkan dengan Ernst & Young).

Pada tahun 2000, beliau menyertai Kumpulan Classic Scenic Berhad, salah satu pengilang bingkai gambar kayu terbesar di Malaysia, sebagai Pengurus Kewangan dan dinaikkan pangkat sebagai Pengawal Kewangan Kumpulan pada tahun 2002.
Beliau memainkan peranan penting dalam menyenaraikan Kumpulan itu ke Papan Kedua Bursa Malaysia pada tahun 2004 dan seterusnya, ke Papan Utama Bursa Malaysia pada tahun 2006.

Kemudiannya, beliau meninggalkan Kumpulan itu dan menyertai Moore Stephens AC (kini digabungkan dengan Baker Tilly Malaysia).

Kini, beliau ialah Rakan Kongsi Teknikal Baker Tilly Malaysia serta ahli majlis MICPA.
Pengalaman audit Encik Lee merangkumi pelbagai industri termasuk perkilangan, pembangunan hartanah, pembinaan, hospitaliti, perladangan, perdagangan, logistik, runcit dan perkhidmatan yang mana kebanyakannya adalah syarikat tersenarai awam dan multinasional.

Beliau juga mempunyai pengalaman dalam kepatuhan wajar kewangan dan bertindak sebagai akauntan pelapor untuk tawaran awam awal dan tugasan korporat lain.
Beliau juga mengendalikan latihan dan bengkel mengenai piawaian perakaunan baharu dan sedia ada untuk kakitangan dalamannya dan pelanggan korporat luaran.
2 0 2 1 Yayasan Laporan Kewangan 40 Profil Ahli TUAN SYED AHMAD TAUFIK ALBAR Pengarah Urusan, Kumpulan Perniagaan Antarabangsa, Kumpulan Perbankan RHB Tuan Syed Ahmad Taufik Albar adalah Pengarah Urusan, Kumpulan Perniagaan Antarabangsa di Kumpulan Perbankan RHB, di mana beliau bertanggungjawab bagi perkembangan dan prestasi perniagaan RHB di luar negara yang meliputi perbankan komersial, perbankan pelaburan dan pengurusan aset, serta menyelaraskan fungsi dan sumber merentasi Kumpulan dan di dalam negara-negara yang terlibat.
Di samping itu, beliau juga menyelia fungsi pemulihan pinjaman bukan runcit Kumpulan.

Sebelum ini, Tuan Syed Ahmad Taufik Albar merupakan mantan Ketua Pegawai Kewangan Kumpulan RHB selama empat tahun sehingga Januari 2021.

Beliau mempunyai pengalaman lebih dari 20 tahun sebagai seorang profesional kewangan di dalam dan di luar negara merangkumi beberapa industri besar.
Beliau pernah berkhidmat dengan Shell di Malaysia, Australia dan Belanda di antara tahun 1998 dan 2009, yang mana selepas itu beliau berkhidmat selama empat tahun di Axiata Group dengan menyandang pelbagai jawatan di Malaysia dan Kemboja.

Sebelum menyertai RHB, beliau merupakan Ketua Pegawai Kewangan Kumpulan UEM Group Berhad.

Tuan Syed Ahmad Taufik Albar memegang Ijazah Sarjana Ekonomi dan Ijazah Sarjana Muda Perakaunan daripada Universiti Islam Antarabangsa Malaysia.
Beliau merupakan felow Institut Akauntan Pengurusan Bertauliah (CIMA) dan ahli Institut Akauntan Malaysia (MIA).

TENGKU DATO' SRI AZMIL ZAHRUDDIN RAJA ABDUL AZIZ Ketua Pegawai Pelaburan, Khazanah Nasional Berhad Tengku Dato' Sri Azmil Zahruddin Raja Abdul Aziz menyertai Khazanah sebagai Pengarah Eksekutif Pelaburan pada Oktober 2011.
Beliau telah dilantik sebagai Timbalan Pengarah Urusan pada Januari 2018 dan kemudian jawatan beliau telah ditukar kepada Ketua Pegawai Pelaburan berkuatkuasa pada 1 Julai 2020.

Peranan utama beliau adalah menyelia Dana Strategik dan Dana Komersial dalam portfolio Khazanah.
Sebelum menyertai Khazanah, Tengku Dato’ Sri Azmil merupakan Pengarah Urusan dan Ketua Pegawai Eksekutif Malaysia Airlines setelah berkhidmat selama enam tahun sebagai Pengarah Eksekutif dan Ketua Pegawai Kewangan di syarikat penerbangan tersebut sejak Ogos 2005.

Sebelum itu, beliau pernah bertugas di Penerbangan Malaysia Berhad sebagai Pengarah Urusan dan Ketua Pegawai Eksekutif, dan sebelum itu sebagai Ketua Pegawai Kewangan.
Beliau juga pernah berkhidmat di PricewaterhouseCoopers di London dan Hong Kong yang mana beliau bertugas di bahagian Audit dan Perkhidmatan Penasihat Perniagaan, dengan pengkhususan dalam perkhidmatan kewangan.

Tengku Dato’ Sri Azmil memiliki Ijazah Kelas Pertama dalam bidang Ekonomi daripada University of Cambridge.

Beliau merupakan Akauntan Bertauliah dan Ahli Institut Akauntan Malaysia (MIA) dan Institut Akauntan Berkanun England dan Wales (ICAEW).
Beliau juga merupakan Ahli Bersekutu Persatuan Bendahari Korporat, United Kingdom.

41 Yayasan Laporan Kewangan 2 0 2 1 Profil Ahli DATO’ SOO CHAN FAI Pengawal Kewangan Kumpulan, Eco World Development Group Berhad Dato’ Soo Chan Fai berusia 54 tahun dan merupakan Akauntan Bertauliah berkelayakan yang berdaftar dengan Institut Akauntan Malaysia (MIA).
Beliau meneruskan kursus perakaunan profesionalnya di Kolej Tunku Abdul Rahman, Kuala Lumpur dan melengkapkan peringkat akhir kursus perakaunan profesionalnya melalui latihan dengan Deloitte (dahulunya dikenali sebagai Kassim Chan).

Beliau menyertai syarikat pembangunan harta tanah, S P Setia Berhad pada tahun 1996.

Beliau meninggalkan S P Setia Berhad pada tahun 2014 dan menyertai Eco World Development Group Berhad, yang juga syarikat pembangunan harta tanah sebagai Pengawal Kewangan Kumpulan.
ENCIK NEW KHENG CHEE Ketua Pegawai Kewangan, Prudential BSN Takaful Berhad Encik New Kheng Chee menyertai kumpulan Prudential pada tahun 2008 dan pernah memegang pelbagai jawatan dalam kumpulan Prudential, termasuk Pengawal Kewangan Serantau Prudential Corporation Asia/Prudential Services Asia Sdn.

Bhd.

dan Pengarah Kewangan Prudential BSN Takaful Berhad.

Beliau kini merupakan Ketua Pegawai Kewangan Prudential BSN Takaful Berhad.
Sebelum ini, beliau pernah berkhidmat dengan Ernst & Young Malaysia, dan mengkhusus dalam tugasan audit dan asurans untuk perniagaan insurans nyawa dan am.

Encik New memegang ijazah dalam Ekonomi daripada London School of Economics and Political Science, dan merupakan Felow Institut Akauntan Berkanun England dan Wales (ICAEW).

Beliau merupakan peserta dalam Rangkaian Eksekutif Bakat Kewangan (F-TEN) Asia ICAEW pada tahun 2014.
2 0 2 1 Yayasan Laporan Kewangan 42 Profil Penasihat ENCIK ALEX OOI THIAM POH Suruhanjaya Sekuriti Malaysia Encik Alex Ooi Thiam Poh kini merupakan Pegawai Eksekutif Lembaga Pemantauan Audit (AOB), Suruhanjaya Sekuriti Malaysia (SC).

Sebelum menyertai AOB, beliau merupakan rakan kongsi audit di BDO Malaysia.
Alex kini terlibat dalam Lembaga Piawaian Pengauditan dan Asurans (AASB), Lembaga Piawaian Etika (ESB), Jawatankuasa Pendidikan, dan Lembaga Rayuan Tatatertib (DAB) bagi Institut Akauntan Malaysia (MIA).

Beliau juga ahli MIA – Jawatankuasa Teknikal Bersama Agensi Kelayakan Malaysia.

Beliau berkhidmat sebagai Penasihat Lembaga Piawaian Perakaunan Malaysia (MASB) dan turut mewakili SC sebagai ahli Jawatankuasa Pelesenan Audit Kementerian Kewangan Malaysia.

Beliau merupakan Ahli Majlis MIA.


Beliau merupakan ahli Kumpulan Kerja Pelabur dan Pihak Berkepentingan Lain (IOSWG) Forum Antarabangsa Pengawal Selia Audit Bebas (IFIAR).

Beliau juga kini merupakan ahli Pusat Kecemerlangan Piawaian Profesional dan Etika CPA Australia.

Beliau pernah menjadi Presiden Divisyen Malaysia CPA Australia pada tahun 2013 dan 2014.

Beliau merupakan bekas ahli Jawatankuasa Penasihat Amalan Awam CPA Australia di Melbourne, Australia.
Encik Alex Ooi adalah Akauntan Bertauliah MIA, Felow CPA Australia, ahli Institut Akauntan England dan Wales (ICAEW) dan Institut Akauntan Awam Bertauliah Malaysia (MICPA).

Beliau memiliki Ijazah Sarjana Muda Ekonomi (Perakaunan) dari Monash University, Australia.

PUAN JESSICA CHEW CHENG LIAN Bank Negara Malaysia Puan Jessica Chew Cheng Lian merupakan Timbalan Gabenor di Bank Negara Malaysia.
Beliau mempunyai pengalaman lebih daripada 28 tahun bersama Bank dalam bidang penyeliaan dan pengawalseliaan sektor kewangan.

Beliau bertanggungjawab terhadap kestabilan kewangan yang meliputi pengawalseliaan dan penyeliaan bank, syarikat insurans, sistem pembayaran dan perniagaan perkhidmatan wang.

Puan Jessica Chew mewakili pihak Bank sebagai penasihat Lembaga Piawaian Perakaunan Malaysia (MASB).
Beliau mempunyai kelayakan sebagai Jurubank Berkanun daripada Institut Jurubank Berkanun (Scotland), Felow Jurubank Berkanun dari Institut Jurubank Berkanun Asia (AICB) dan merupakan ahli bersekutu CPA Australia.

Beliau berkelulusan Ijazah Sarjana Muda Perdagangan dengan pengkhususan dalam bidang perakaunan dan kewangan daripada University of Melbourne, Australia.
43 Yayasan Laporan Kewangan 2 0 2 1 Profil Penasihat ENCIK YAP WENG SEONG Suruhanjaya Syarikat Malaysia Encik Yap Weng Seong ialah ahli Felow Persatuan Akauntan Bertauliah Berkanun (ACCA), United Kingdom dan ahli Institut Akauntan Malaysia (MIA).

Beliau juga memiliki sijil “Certification in Training” yang dianugerahkan oleh Pembangunan Sumber Manusia Berhad dan Sijil IV dalam Latihan dan Penilaian yang dianugerahkan oleh Management Consultancy International Pty Ltd, Australia.
Encik Yap memulakan kerjaya beliau di sebuah firma profesional antarabangsa dalam bidang audit, perakaunan dan khidmat nasihat perniagaan.

Selepas itu, beliau menyertai Jabatan Kastam Diraja Malaysia sebagai Penguasa Kastam dalam seksyen Pelesenan dan Penguatkuasaan sebelum kembali ke sektor swasta sebagai Pengawal Kewangan di mana beliau memperolehi pengetahuan dan kemahiran bernilai dalam bidang pentadbiran, kewangan dan perakaunan.
Beliau kemudiannya menyertai Lembaga Hasil Dalam Negeri Malaysia (LHDNM) sebagai Penolong Pengarah untuk melanjutkan kerjayanya.

Di LHDNM, beliau telah memperoleh pendedahan dan pengetahuan yang luas dalam cukai individu serta korporat, audit cukai, cukai pegangan dan cukai pematuhan di Seksyen Cukai Korporat dan Cukai Pegangan.

Beliau juga dilantik oleh LHDNM sebagai Pegawai Pendakwa untuk mengendalikan prosiding sivil di mahkamah Malaysia menurut Akta Cukai Pendapatan 1967.
Encik Yap mempunyai lebih daripada 35 tahun pengalaman bekerja dalam pelbagai industri dan kini memegang jawatan Pengurus Kanan di Seksyen Semakan dan Pembangunan Perundangan di Bahagian Pembangunan dan Perkhidmatan Perundangan, Suruhanjaya Syarikat Malaysia.
2 0 2 1 Yayasan Laporan Kewangan 44 Muka surat ini sengaja dibiarkan kosong PENGURUSAN DAN PASUKAN TEKNIKAL 2 0 2 1 Yayasan Laporan Kewangan 46 PENGURUSAN 2 1 3 4 5 1 Puan Tan Bee Leng Pengarah Eksekutif 2 Encik Chee Choong Yin Pengurus Akaun dan Pentadbiran 3 Encik Foo Yoke Pin Pengarah Projek (Aktiviti Pelaksanaan MFRS) 4 Cik Chew Lam Koon Pengarah Projek (Aktiviti Penetap Piawaian) 5 Puan Nadiah Ismail Penolong Pengarah Bersekutu 47 Yayasan Laporan Kewangan 2 0 2 1 Pengurusan PUAN TAN BEE LENG Pengarah Eksekutif Puan Tan Bee Leng merupakan Pengarah Eksekutif FRF/MASB.
Beliau menyertai FRF/MASB pada tahun 1999, membawa bersama pengalaman luas beliau dalam bidang amalan awam, perdagangan dan industri.

Beliau memulakan kerjayanya dengan Tetuan Ernst & Whinney (EW) pada tahun 1988 sebelum menyertai Tetuan Peter Chong & Co (PC) beberapa tahun kemudian.

Sepanjang perkhidmatan beliau di EW dan PC, beliau pernah terlibat dalam tugasan khas seperti tugasan pengapungan syarikat, audit khas, semakan kepatuhan wajar dan audit statutori.
Klien beliau terdiri daripada syarikat dalam pelbagai sektor seperti pembuatan, perladangan, pembangunan hartanah, peruncitan, makanan dan minuman, agensi perkapalan dan pegangan pelaburan.

Beliau meninggalkan praktis profesional pada pertengahan tahun 90-an untuk menyertai perdagangan dan industri, dan pernah memegang pelbagai jawatan pengurusan kanan syarikat tersenarai awam dan anak syarikatnya, di mana beliau bertanggungjawab terhadap hal ehwal korporat, akaun, cukai dan keperluan dana kumpulan.
Bee Leng menganggotai Majlis Penasihat IFRS sebagai wakil individu MASB, berkuat kuasa pada 1 Januari 2020 untuk tempoh tiga tahun.

Majlis Penasihat merupakan sebuah badan penasihat strategik rasmi bagi Pemegang Amanah Yayasan IFRS, Lembaga Piawaian Perakaunan Antarabangsa (IASB) dan Lembaga Piawaian Kelestarian Antarabangsa (ISSB).

Bee Leng juga mewakili MASB dalam Kumpulan Ekonomi Sedang Meningkat Naik (EEG) IASB sejak penubuhannya.
EEG, yang ditubuhkan pada tahun 2011, memberi tumpuan kepada isu sekitar aplikasi dan pelaksanaan Piawaian IFRS dalam ekonomi sedang meningkat naik.

Di samping itu, kumpulan itu juga boleh mempertimbangkan jika, dan bagaimana, IASB dapat menyediakan bimbingan pendidikan di peringkat yang tepat untuk pihak yang berminat dalam ekonomi sedang meningkat naik dan apakah sistem penyampaian terbaik untuk ini.
Di samping itu, Bee Leng dilantik atas kapasiti individu sebagai ahli Kumpulan Pelaksanaan SME (SMEIG) IASB, untuk penggal kedua selama tiga tahun, berkuat kuasa pada 1 Julai 2019.

SMEIG mempunyai dua tanggungjawab utama, iaitu untuk mempertimbangkan soalan pelaksanaan IFRS untuk SME dan mengesyorkan cadangan kepada IASB tentang keperluan untuk meminda Piawaian IFRS untuk SME.

Bee Leng juga merupakan penyokong aktif bagi pelaporan kewangan antarabangsa untuk Organisasi Bukan-Untung (NPO).
Beliau merupakan ahli dalam Kumpulan Penasihat Teknikal bagi Pelaporan Kewangan Antarabangsa untuk Organisasi Bukan-Untung (TAG), satu inisiatif oleh Institut Kewangan dan Perakaunan Awam Berkanun (CIPFA).
Peranan TAG dalam pembangunan panduan pelaporan kewangan bukan mandatori yang diaplikasi di peringkat antarabangsa untuk NPO adalah untuk menyediakan satu forum di mana Sekretariat TAG boleh berunding dengan individu berpengalaman daripada penetap piawaian nasional, tentang pendekatan keseluruhan, dan isu teknikal utama yang ditangani, serta pemuktamadannya.
Di peringkat profesional, Bee Leng menganggotai Forum Global Persatuan Akauntan Bertauliah Berkanun (ACCA) untuk Laporan Korporat sejak penubuhannya, salah satu daripada 10 forum global yang dilancarkan oleh ACCA pada tahun 2011 yang mengumpulkan pakar daripada sektor awam dan swasta, pengamal awam dan ahli akademik serata dunia.

Sebelum pelantikan beliau ke Forum, beliau terlibat dalam peperiksaan kertas laporan korporat dari tahun 2008 hingga 2011.
Beliau merupakan ahli Institut Akauntan Malaysia (MIA), Institut Akauntan Awam Bertauliah Malaysia (MICPA), Akauntan Profesional Berkanun ASEAN (ASEAN CPA) dan Ahli Felow ACCA United Kingdom.

Di samping itu, beliau merupakan ahli bersekutu Institut Cukai Berkanun Malaysia (CTIM) serta ahli bertauliah Persatuan Perancangan Kewangan Malaysia.
2 0 2 1 Yayasan Laporan Kewangan 48 Pengurusan ENCIK CHEE CHOONG YIN Pengurus Akaun dan Pentadbiran Encik Chee Choong Yin ialah Pengurus Akaun dan Pentadbiran yang bertanggungjawab terhadap akaun dan fungsi pentadbiran harian Yayasan.
Beliau memulakan kerjayanya dengan KPMG dan adalah seorang profesional kewangan yang mempunyai lebih 30 tahun pengalaman dengan syarikat tempatan, tersenarai awam dan multinasional, dengan mengawasi fungsi kewangan, perakaunan, perbendaharaan, teknologi maklumat, pengurusan perniagaan dan operasi.

Beliau pernah bekerja dalam pelbagai industri termasuk peruncitan dan perdagangan, pembinaan dan pembangunan hartanah, taman tema dan pengurusan acara, serta pembuatan.
Encik Chee ialah ahli Institut Akauntan Malaysia (MIA) dan ahli bersekutu Institut Akauntan Pengurusan Berkanun (CIMA).

Beliau memiliki ijazah Sarjana Pentadbiran Perniagaan daripada Universiti Heriot Watt, UK.

ENCIK FOO YOKE PIN Pengarah Projek (Aktiviti Pelaksanaan MFRS) Encik Foo Yoke Pin ialah Pengarah Projek yang bertanggungjawab terhadap isu pelaksanaan Piawaian Pelaporan Kewangan Malaysia.
Beliau dahulunya merupakan Pengarah Eksekutif Institut Akauntan Awam Bertauliah Malaysia (MICPA) selama 12 tahun dan bertanggungjawab terhadap operasi keseluruhan Institut tersebut.

Beliau pernah menjadi ahli Jawatankuasa Penasihat Piawaian Perakaunan Kerajaan di Jabatan Akauntan Negara Malaysia, ahli Lembaga Penasihat bagi Sekolah Perniagaan Universiti Curtin, Kampus Miri, Felow Adjung di Sekolah Perniagaan Universiti Utara Malaysia dan ahli Jawatankuasa Peperiksaan Institut Akauntan Malaysia (MIA).
Beliau telah dilantik sebagai Profesor Madya Adjung di Kolej Taylor bermula pada 1 Januari 2020.

Beliau memulakan kerjayanya sebagai pelatih dengan KPMG, dan kali terakhir adalah bersama dengan syarikat tersenarai awam di Singapura sebagai Pengawal Kewangan Serantau bagi rantau Asia Pasifik.

Beliau mempunyai lebih daripada 15 tahun pengalaman bekerja dalam bidang kewangan dan perakaunan.

Encik Foo adalah ahli MICPA dan MIA.


Beliau memiliki ijazah Sarjana Pentadbiran Perniagaan daripada Universiti Putra Malaysia (UPM).

49 Yayasan Laporan Kewangan 2 0 2 1 Pengurusan CIK CHEW LAM KOON Pengarah Projek (Aktiviti Penetapan Piawaian) Cik Chew Lam Koon, Pengarah Projek, bertanggungjawab menyokong aktiviti penetapan piawaian MASB.
Beliau adalah seorang kewangan profesional yang mempunyai lebih 30 tahun pengalaman kerja dalam fungsi kewangan dan perakaunan syarikat serta 15 tahun pengalaman dengan PwC.

Sebagai pakar IFRS di PwC, Puan Chew telah terlibat dengan libat urus pelanggan merentasi pelbagai industri.

Puan Chew menamatkan pengajian daripada Universiti Nasional Singapura dan merupakan ahli Institut Akauntan Malaysia (MIA).

Beliau juga pernah berkhidmat sebagai ahli Jawatankuasa Semakan Penyata Kewangan MIA.
PUAN NADIAH ISMAIL Penolong Pengarah Bersekutu Puan Nadiah Ismail ialah Penolong Pengarah Bersekutu yang bertanggungjawab terhadap aktiviti penetapan piawaian dan juga projek pelaporan kewangan daripada perspektif Islam.

Sebelum menyertai FRF/MASB pada tahun 2013, beliau pernah berkhidmat dengan KPMG dan terlibat dalam audit syarikat tempatan dan multinasional dalam pelbagai industri seperti hiburan, pembangunan hartanah, peruncitan dan perkhidmatan.
Puan Nadiah memiliki Ijazah Sarjana Muda Perakaunan daripada Universiti Malaya dan merupakan ahli Institut Akauntan Malaysia (MIA) dan Ahli Felow Persatuan Akauntan Bertauliah Berkanun (ACCA).
2 0 2 1 Yayasan Laporan Kewangan 50 Pasukan Teknikal Nama Encik Angus Thomson Puan Idawaty Mohd Hasan Puan Cathrine Su Ju Ming Mohd Noor Afiq Noor Azmi Jawatan Penasihat Teknikal Pengurus Teknikal Pengurus Teknikal Pengurus Teknikal Puan Maisarah Haji Mustapa Eksekutif Kanan Teknikal Cik Fara Naziha Mat Khamal Eksekutif Kanan Teknikal 51 Yayasan Laporan Kewangan 2 0 2 1 KERJA TEKNIKAL SEPANJANG 2021 2 0 2 1 Yayasan Laporan Kewangan 52 Kerja Teknikal Sepanjang 2021 Misi MASB adalah untuk membangunkan dan menggalakkan piawaian perakaunan dan pelaporan kewangan yang berkualiti tinggi dan konsisten dengan amalan terbaik antarabangsa untuk manfaat pengguna, penyedia, juruaudit dan pihak awam di Malaysia.
Pada tahun ini, MASB menerbitkan lima (5) Pindaan kepada Piawaian MFRS, tiga (3) Pernyataan Teknikal dan notifikasi bagi tujuh (7) Keputusan Agenda Jawatankuasa Interpretasi IFRS (IFRIC).

Dua puluh tiga (23) draf pernyataan teknikal telah diterbitkan untuk komen awam.

Ia merangkumi satu (1) Draf Pendedahan Yayasan IFRS, dua (2) Permohonan Maklumat IASB, sembilan (9) Draf Pendedahan IASB, sembilan (9) Keputusan Agenda Tentatif IFRIC dan dua (2) draf pernyataan teknikal MASB.
Di samping itu, MASB telah menyemak dan memberikan komen terhadap dua puluh satu (21) draf pernyataan teknikal.

Ia merangkumi satu (1) Draf Pendedahan Yayasan IFRS, dua (2) Permohonan Maklumat IASB, satu (1) Kertas Perbincangan IASB, enam (6) Draf Pendedahan IASB dan sebelas (11) Keputusan Agenda Tentatif IFRIC.

Perincian perkara di atas dihuraikan di bahagian masing-masing.
53 Yayasan Laporan Kewangan 2 0 2 1 Pernyataan Muktamad – Rangka Kerja MFRS Lima (5) Pindaan kepada Piawaian MFRS serupa dengan Pindaan kepada Piawaian IFRS yang diterbitkan oleh Lembaga Piawaian Perakaunan Antarabangsa (IASB) dan tiga (3) Pernyataan Teknikal telah diterbitkan pada tahun ini: Pindaan kepada Piawaian MFRS No.
Tajuk 1 Pendedahan Dasar Perakaunan (Pindaan kepada MFRS 101 Pembentangan Penyata Kewangan dan Penyata Amalan 2 MFRS Membuat Penghakiman Kematanan) 2 3 4 5 Definisi Anggaran Perakaunan (Pindaan kepada MFRS 108 Dasar Perakaunan, Perubahan dalam Anggaran Perakaunan dan Kesilapan) Konsesi Sewa Berkaitan Covid-19 melangkaui 30 Jun 2021 (Pindaan kepada MFRS 16 Pajakan) Cukai Tertunda berkaitan Aset dan Liabiliti terhasil daripada Urus Niaga Tunggal (Pindaan kepada MFRS 112 Cukai Pendapatan) Aplikasi Awal MFRS 17 dan MFRS 9—Maklumat Perbandingan (Pindaan kepada MFRS 17 Kontrak Insurans) Pernyataan Teknikal No.
Tajuk 1 Prakata kepada Pernyataan Teknikal dan Panduan Tarikh Terbitan 15 Mac 2021 Tarikh Kuat Kuasa 1 Januari 2023 15 Mac 2021 1 Januari 2023 6 April 2021 1 April 2021 30 Jun 2021 1 Januari 2023 30 Disember 2021 1 Januari 2023 Tarikh Terbitan Februari 2021 Mei 2021 2 3 * Panduan Aplikasi dan Pelaksanaan MFRS (MAIG) 3 Penyediaan penyata kewangan disatukan bagi kumpulan yang telah melupuskan satu-satunya anak syarikat pada tahun kewangan* Buletin Isu 3 Pelaporan Qard dalam Lajur Dana Takaful dalam Penyata Kewangan Entiti Takaful** Jun 2021 Rujuk Objektif 6 dalam Laporan SPA 1/2012 untuk maklumat mengenai Pernyataan Teknikal ini yang merupakan sebahagian daripada objektif Lembaga untuk memantau aplikasi piawaian perakaunan diluluskan MASB dan bahagian Jawatankuasa Aplikasi dan Pelaksanaan MFRS (MAIC) untuk aktiviti pelaksanaan MASB yang lain.
** Rujuk Objektif 5 dalam Laporan SPA 1/2012 untuk maklumat mengenai Pernyataan Teknikal ini yang merupakan sebahagian daripada objektif Lembaga untuk menggalakkan dan menyokong kajian dalam bidang pelaporan kewangan, khasnya bagi pasaran yang sedang meningkat naik dan pasaran Islam.
2 0 2 1 Yayasan Laporan Kewangan 54 Ringkasan Pindaan kepada Piawaian MFRS yang diterbitkan pada 2021 Pendedahan Dasar Perakaunan (Pindaan kepada MFRS 101 Pembentangan Penyata Kewangan dan Penyata Amalan 2 MFRS Membuat Penghakiman Kematanan) adalah serupa dengan Pendedahan Dasar Perakaunan (Pindaan kepada IAS 1 Pembentangan Penyata Kewangan dan Penyata Amalan 2 IFRS Membuat Penghakiman Kematanan) yang diterbitkan oleh IASB.
Pindaan kepada MFRS 101 memerlukan entiti untuk mendedahkan maklumat dasar perakaunan material mereka dan bukannya dasar perakaunan signifikan.

Pindaan ini, antara lain, memasukkan contoh keadaan di mana entiti mungkin akan mempertimbangkan sesuatu maklumat dasar perakaunan sebagai material bagi penyata kewangannya.
Bagi menyokong Pindaan kepada MFRS 101, Penyata Amalan 2 MFRS juga dipinda untuk menyediakan panduan mengenai cara untuk mengaplikasi konsep kematanan kepada pendedahan maklumat dasar perakaunan.

Panduan dan contoh yang disediakan di dalam Penyata Amalan 2 MFRS menegaskan keperluan untuk memberi tumpuan terhadap maklumat khusus entiti dalam mengetengahkan maklumat seragam (atau 'boilerplate') dan pertindihan keperluan Piawaian MFRS dalam pendedahan maklumat dasar perakaunan.
Pindaan kepada MFRS 101 hendaklah diaplikasi bagi tempoh pelaporan tahunan bermula pada atau selepas 1 Januari 2023.

Aplikasi awal adalah dibenarkan.

Definisi Anggaran Perakaunan (Pindaan kepada MFRS 108 Dasar Perakaunan, Perubahan dalam Anggaran Perakaunan dan Kesilapan) adalah serupa dengan Definisi Anggaran Perakaunan (Pindaan kepada IAS 8 Dasar Perakaunan, Perubahan dalam Anggaran Perakaunan dan Kesilapan) yang diterbitkan oleh IASB.
Pindaan kepada MFRS 108 memperkenalkan definisi anggaran perakaunan untuk menjelaskan bagaimana syarikat patut membezakan perubahan dalam dasar perakaunan daripada perubahan dalam anggaran perakaunan.
Perbezaan ini adalah penting kerana perubahan dalam anggaran perakaunan diaplikasi secara prospektif kepada urus niaga, peristiwa lain, atau keadaan daripada tarikh perubahan tersebut, tetapi perubahan dalam dasar perakaunan secara amnya juga diaplikasi secara retrospektif kepada urus niaga lampau dan peristiwa lampau yang lain.

Pindaan kepada MFRS 108 hendaklah diaplikasi bagi tempoh pelaporan tahunan bermula pada atau selepas 1 Januari 2023.

Aplikasi awal adalah dibenarkan.


Konsesi Sewa Berkaitan Covid-19 melangkaui 30 Jun 2021 (Pindaan kepada MFRS 16 Pajakan) adalah serupa dengan Konsesi Sewa Berkaitan Covid-19 melangkaui 30 Jun 2021 (Pindaan kepada IFRS 16 Pajakan) yang diterbitkan oleh IASB.
Pindaan asal, Konsesi Sewa Berkaitan Covid-19 (Pindaan kepada MFRS 16 Pajakan) telah diterbitkan pada 5 Jun 2020 untuk memudahkan penerima pajak memperakaunkan konsesi sewa berkaitan COVID-19, seperti cuti sewa dan pengurangan sewa sementara, sambil terus memberikan maklumat berguna tentang pajakan mereka kepada pelabur.
Pindaan 2020 ini mengecualikan penerima pajak daripada mempertimbangkan kontrak pajakan individu untuk menentukan sama ada konsesi sewa berlaku akibat kesan langsung daripada pandemik COVID-19 adalah pengubahsuaian pajakan dan membenarkan penerima pajak memperakaunkan konsesi sewa tersebut seolah-olah ia bukan pengubahsuaian pajakan.
Pindaan ini melanjutkan ketersediaan manfaat praktikal yang telah diperuntuk pada tahun 2020 supaya ia dapat diaplikasi kepada konsesi sewa di mana sebarang pengurangan dalam pembayaran pajakan hanya memberi kesan kepada pembayaran yang asalnya perlu dibayar pada atau sebelum 30 Jun 2022, asalkan syarat lain untuk mengaplikasi manfaat praktikal telah dipenuhi.

Pindaan kepada MFRS 16 hendaklah diaplikasi bagi tempoh pelaporan tahunan bermula pada atau selepas 1 April 2021.
Aplikasi awal adalah dibenarkan, termasuk dalam penyata kewangan belum dibenarkan untuk diterbitkan pada 31 Mac 2021.
55 Yayasan Laporan Kewangan 2 0 2 1 Ringkasan Pindaan kepada Piawaian MFRS yang diterbitkan pada 2021 Cukai Tertunda berkaitan Aset dan Liabiliti terhasil daripada Urus Niaga Tunggal (Pindaan kepada MFRS 112 Cukai Pendapatan) adalah serupa dengan Cukai Tertunda berkaitan Aset dan Liabiliti terhasil daripada Urus Niaga Tunggal (Pindaan kepada IAS 12 Cukai Pendapatan) yang diterbitkan oleh IASB.
Pindaan kepada MFRS 112 memperinci bagaimana syarikat perlu memperakaunkan cukai tertunda ke atas urus niaga seperti pajakan dan kewajipan berkaitan penamatan tugas.

Dalam keadaan tertentu, MFRS 112 mengecualikan syarikat daripada mengiktiraf cukai tertunda apabila mereka mengiktiraf aset atau liabiliti buat kali pertama.
Terdapat beberapa ketidakpastian mengenai sama ada pengecualian daripada mengiktiraf cukai tertunda terpakai kepada urus niaga seperti pajakan dan kewajipan berkaitan penamatan tugas – urus niaga di mana syarikat mengiktiraf kedua-dua aset dan liabiliti.

Pindaan ini menjelaskan bahawa pengecualian tidak terpakai dan syarikat dikehendaki untuk mengiktiraf cukai tertunda ke atas urus niaga tersebut.
Penjelasan tersebut dijangka dapat mengurangkan kepelbagaian dalam pelaporan cukai tertunda ke atas pajakan dan kewajipan berkaitan penamatan tugas.

Pindaan kepada MFRS 112 hendaklah diaplikasi bagi tempoh pelaporan tahunan bermula pada atau selepas 1 Januari 2023.

Aplikasi awal adalah dibenarkan.


Aplikasi Awal MFRS 17 dan MFRS 9—Maklumat Perbandingan (Pindaan kepada MFRS 17 Kontrak Insurans) adalah serupa dengan Aplikasi Awal IFRS 17 dan IFRS 9—Maklumat Perbandingan (Pindaan kepada IFRS 17 Kontrak Insurans) yang diterbitkan oleh IASB.

Pindaan ini berkaitan dengan keperluan peralihan MFRS 17 sahaja—ia tidak menjejaskan sebarang keperluan lain dalam Piawaian ini.
Memandangkan keperluan peralihan yang berbeza dalam MFRS 17 dan MFRS 9 Instrumen Kewangan, ini boleh menyebabkan ketakpadanan perakaunan sementara antara aset kewangan dan liabiliti kontrak insurans dalam maklumat perbandingan yang dibentangkan pada aplikasi awal MFRS 17 dan MFRS 9.
Pindaan ini akan membantu penginsurans untuk mengelak ketakpadanan perakaunan sementara ini dengan memberi penginsurans pilihan untuk pembentangan maklumat perbandingan tentang aset kewangan seolah-olah keperluan pengelasan dan pengukuran MFRS 9 telah diaplikasi pada aset kewangan tersebut.

MFRS 17, termasuk Pindaan ini, berkuat kuasa untuk tempoh pelaporan tahunan bermula pada atau selepas 1 Januari 2023.
2 0 2 1 Yayasan Laporan Kewangan 56 Ringkasan Pernyataan Teknikal yang diterbitkan pada 2021 Prakata kepada Pernyataan Teknikal dan Panduan (Prakata) bertujuan untuk menerangkan tentang pelbagai jenis pernyataan teknikal yang diterbitkan oleh Lembaga serta panduan pendidikan lain yang tersedia untuk membantu pihak berkepentingan dalam pelaksanaan Piawaian Perakaunan Diluluskan MASB.
Prakata ini juga akan digunakan sebagai panduan rujukan untuk Lembaga bagi konvensyen penamaan untuk pelbagai jenis pernyataan teknikal.

Prakata ini menggantikan Kata Pengantar kepada Piawaian MASB dan Pernyataan Teknikal MASB Lain yang diterbitkan MASB pada tahun 1998.
MAIG 3 Penyediaan penyata kewangan disatukan bagi kumpulan yang telah melupuskan satu-satunya anak syarikat pada tahun kewangan telah diterbitkan sebagai maklum balas kepada permohonan yang diterima oleh MAIC tentang keperluan menyediakan penyata kewangan disatukan bagi kumpulan yang telah melupuskan satu-satunya anak syarikat pada tahun kewangan.

Dalam corak fakta yang diterangkan dalam permohonan, pelabur mempunyai anak syarikat selama beberapa tahun dan telah menyediakan penyata kewangan yang disatukan.
Bagaimanapun, pada tahun berakhir 31 Disember 2019, pelabur melupuskan satu-satunya anak syarikat pada 30 Jun 2019.

Permohonan bertanyakan sama ada pelabur perlu menyediakan penyata kewangan disatukan bagi tahun berakhir 31 Disember 2019.

Berdasarkan corak fakta, MAIC merumuskan bahawa penyata kewangan disatukan perlu disediakan pelabur bagi tahun berakhir 31 Disember 2019 kerana pelabur adalah induk dalam tempoh pelaporan, walaupun ia tidak lagi menjadi induk pada akhir tempoh pelaporan.
Buletin Isu 3 Pelaporan Qard dalam Lajur Dana Takaful dalam Penyata Kewangan Entiti Takaful adalah yang ketiga dalam siri pernyataan teknikal yang diterbitkan oleh Lembaga mengenai pengaplikasian Piawaian MFRS kepada Takaful.

Buletin Isu 3 diterbitkan untuk menangani perakaunan qard dalam konteks kewajipan pengendali takaful untuk menyumbang qard kepada dana takaful untuk menampung defisit di bawah seksyen 95 Akta Perkhidmatan Kewangan Islam 2013.
Buletin Isu 3 merumuskan bahawa daripada perspektif dana takaful, qard membentuk sebahagian daripada aliran tunai pemenuhan di bawah MFRS 17.

Lembaga juga mempertimbangkan kesan perakaunan qard sekiranya entiti takaful memilih untuk menyediakan lajur pengendali takaful secara berasingan dalam penyata kewangan dan oleh itu telah menerbitkan Lampiran kepada Buletin Isu yang mengandungi perbincangan dan panduan mengenai qard daripada perspektif pengendali takaful.
57 Yayasan Laporan Kewangan 2 0 2 1 Keputusan Agenda IFRIC Pada tahun ini, MASB menerbitkan notifikasi bagi Keputusan Agenda IFRIC berikut: No.
Tajuk IFRS 9 Instrumen Kewangan 1 Kebolehubahan Lindung Nilai dalam Aliran Tunai kerana Kadar Faedah Sebenar IFRS 16 Pajakan 2 Cukai Nilai Ditambah Tanpa Bayaran Balik ke atas Bayaran Pajakan IAS 2 Inventori 3 Kos yang Diperlukan untuk Menjual Inventori IAS 10 Peristiwa Selepas Tempoh Pelaporan 4 Penyediaan Penyata Kewangan apabila Entiti bukan lagi Usaha Berterusan IAS 19 Manfaat Pekerja Notifikasi diterbitkan pada Jun 2021 November 2021 Julai 2021 Julai 2021 5 Mengaitkan Manfaat kepada Tempoh Perkhidmatan Jun 2021 IAS 32 Instrumen Kewangan: Pembentangan 6 Perakaunan untuk Waran yang Dikelaskan sebagai Liabiliti Kewangan pada Pengiktirafan Awal IAS 38 Aset Tak Ketara 7 Kos Konfigurasi atau Penyesuaian dalam Pengaturan Pengkomputeran Awam November 2021 Mei 2021 2 0 2 1 Yayasan Laporan Kewangan 58 Ringkasan Keputusan Agenda IFRIC yang dimaklumkan pada 2021 IFRIC IFRIC bekerjasama dengan IASB dalam menyokong pengaplikasian Piawaian IFRS secara konsisten.
Projek untuk dipertimbangkan.

IFRIC kemudiannya akan memutuskan sama ada projek penetapan piawaian perlu dimasukkan ke dalam pelan kerja untuk menangani soalan yang dihantar.
IFRIC boleh memutuskan untuk tidak berbuat demikian jika ia merumuskan bahawa penetapan piawaian: pengaplikasian biasanya dihantar bermula dengan soalan yang ● ● tidak diperlukan – biasanya kerana, pada pandangan IFRIC, Piawaian IFRS menyediakan asas yang mencukupi untuk sesebuah syarikat menentukan perakaunan yang diperlukan atau kerana tidak mempunyai bukti yang mencukupi bahawa masalah perakaunan wujud secara meluas; atau tidak cukup terhad dari segi skop – isu hanya boleh diselesaikan dengan menjadikannya sebahagian daripada projek IASB yang lebih besar (bukan projek berskop terhad).
Untuk menjelaskan mengapa projek penetapan piawaian tidak perlu dimasukkan, IFRIC menerbitkan Keputusan Agenda untuk melaporkan keputusannya, dan, kebiasaannya juga disertakan dengan material penjelasan untuk menambahbaik pengaplikasian Piawaian IFRS secara konsisten.

Ia dilakukan dengan menjelaskan bagaimana prinsip dan keperluan yang relevan di dalam Piawaian diaplikasi kepada urus niaga atau corak fakta yang diperinci dalam keputusan agenda.
Pada tahun ini, MASB menyiarkan notifikasi tentang Keputusan Agenda yang diterbitkan oleh IFRIC seperti berikut: (1) Kebolehubahan Lindung Nilai dalam Aliran Tunai kerana Kadar Faedah Sebenar (IFRS 9 Instrumen Kewangan) IFRIC menerima permohonan mengenai aplikasi keperluan perakaunan lindung nilai dalam IFRS 9 apabila objektif pengurusan risiko adalah untuk ‘menetapkan’ aliran tunai dalam terma sebenar.
Memandangkan permohonan ini bertanyakan sama ada komponen kadar faedah sebenar boleh ditetapkan sebagai komponen risiko dalam lindung nilai aliran tunai, analisa IFRIC tertumpu kepada sama ada komponen risiko kadar faedah sebenar tertentu bukan secara kontrak boleh dikenal pasti secara berasingan dan boleh diukur dengan pasti dalam konteks perhubungan lindung nilai aliran tunai yang dicadangkan seperti diperinci dalam permohonan.
IFRIC merumuskan bahawa keperluan dalam IFRS 9 menyediakan asas yang mencukupi untuk entiti menentukan sama ada lindung nilai bagi kebolehubahan dalam aliran tunai yang timbul daripada perubahan dalam kadar faedah sebenar, dan bukan kadar faedah nominal, dapat diperakaunkan sebagai lindung nilai aliran tunai.
(2) Cukai Nilai Ditambah Tanpa Bayaran Balik ke atas Bayaran Pajakan (IFRS 16 Pajakan) IFRIC menerima permohonan mengenai bagaimana penerima pajak memperakaunkan sebarang cukai nilai ditambah (VAT) tanpa bayaran balik yang dikenakan pada bayaran pajakan.

Permohonan bertanyakan sama ada, mengaplikasi IFRS 16, penerima pajak memasukkan VAT tanpa bayaran balik sebagai sebahagian daripada bayaran pajakan untuk suatu pajakan.
Jangkauan luar yang dijalankan oleh IFRIC dan surat maklum balas diterima berkenaan keputusan agenda tentatif IFRIC memberikan bukti terhad: (a) bahawa VAT tanpa bayaran balik yang dikenakan pada bayaran pajakan adalah material kepada pajakan yang terkesan; dan (b) tentang kepelbagaian cara penerima pajak dalam keadaan yang sama memperakaunkan VAT tanpa bayaran balik ke atas bayaran pajakan.
Oleh itu, IFRIC tidak mempunyai bukti bahawa perihal ini mempunyai kesan meluas, dan telah, atau dijangka akan mempunyai kesan material terhadap mereka yang terlibat.
59 Yayasan Laporan Kewangan 2 0 2 1 Ringkasan Keputusan Agenda IFRIC yang dimaklumkan pada 2021 (3) Kos yang Diperlukan untuk Menjual Inventori (IAS 2 Inventori) IFRIC menerima permohonan mengenai kos yang dimasukkan oleh entiti sebagai 'anggaran kos yang diperlukan untuk membuat jualan' apabila menentukan nilai boleh realis bersih bagi inventori.

Khususnya, permohonan bertanyakan sama ada entiti memasukkan semua kos yang diperlukan untuk membuat jualan atau hanya kos tambahan kepada jualan.
IFRIC merumuskan bahawa: (a) (b) apabila menentukan nilai boleh realis bersih bagi inventori, entiti menganggarkan kos yang diperlukan untuk membuat jualan dalam urusan biasa perniagaan.

Entiti menggunakan pertimbangan apabila menentukan kos yang diperlukan untuk membuat jualan dengan mengambil kira fakta dan keadaan tertentu, termasuklah jenis inventori.
prinsip dan keperluan dalam Piawaian IFRS menyediakan asas yang mencukupi untuk entiti untuk menentukan sama ada anggaran kos yang diperlukan untuk membuat jualan adalah terhad kepada kos tambahan apabila menentukan nilai boleh realis bersih bagi inventori.
(4) Penyediaan Penyata Kewangan apabila Entiti bukan lagi Usaha Berterusan (IAS 10 Peristiwa Selepas Tempoh Pelaporan) IFRIC menerima permohonan mengenai perakaunan yang diaplikasi oleh entiti yang bukan lagi usaha berterusan (seperti yang diperinci dalam perenggan 25 IAS 1 Pembentangan Penyata Kewangan).
Permohonan bertanyakan sama ada entiti: (a) boleh menyediakan penyata kewangan untuk tempoh terdahulu berasaskan usaha berterusan jika ia adalah usaha berterusan dalam tempoh tersebut dan tidak pernah menyediakan penyata kewangan bagi tempoh tersebut; dan (b) menyatakan semula maklumat perbandingan untuk menunjukkan asas perakaunan yang digunakan semasa menyediakan penyata kewangan tempoh semasa jika sebelum ini telah menerbitkan penyata kewangan untuk tempoh perbandingan berasaskan usaha berterusan.
IFRIC: (a) merumuskan bahawa prinsip dan keperluan dalam Piawaian IFRS menyediakan asas yang mencukupi bagi entiti yang bukan lagi usaha berterusan untuk menentukan sama ada ia perlu menyediakan penyata kewangan berasaskan usaha berterusan.

Mengaplikasi perenggan 25 IAS 1 dan perenggan 14 IAS 10, sesebuah entiti yang bukan lagi usaha berterusan tidak boleh menyediakan penyata kewangan (termasuk penyata kewangan untuk tempoh terdahulu yang belum dibenarkan untuk diterbitkan) berasaskan usaha berterusan.
(b) mendapati bahawa berdasarkan penyelidikan, tiada kepelbagaian dalam aplikasi Piawaian IFRS berkenaan dengan isu (b) tentang penyataan semula perbandingan.

Oleh itu, IFRIC tidak mempunyai bukti bahawa perkara itu mempunyai kesan secara meluas.

(5) Mengaitkan Manfaat kepada Tempoh Perkhidmatan (IAS 19 Manfaat Pekerja) IFRIC menerima permohonan mengenai tempoh perkhidmatan di mana entiti mengaitkan manfaat kepada pelan manfaat persaraan tertentu.
Di bawah terma pelan tersebut: (a) pekerja berhak mendapat pembayaran manfaat sekaligus apabila mereka mencapai usia persaraan tertentu dengan syarat mereka masih bekerja dengan entiti apabila mereka mencapai usia persaraan tersebut; dan (b) jumlah manfaat persaraan yang berhak diperoleh pekerja adalah bergantung kepada jangka masa perkhidmatan pekerja dengan entiti sebelum tiba usia persaraan dan terhad kepada jumlah turutan tahun perkhidmatan yang ditetapkan.
Untuk pelan manfaat persaraan yang digambarkan dalam keputusan agenda ini, IFRIC merumuskan bahawa entiti yang mengaitkan manfaat persaraan kepada setiap tahun di mana pekerja mula berkhidmat dari usia 46 tahun hingga ke 62 tahun (atau, jika tempoh perkhidmatan bermula pada atau 2 0 2 1 Yayasan Laporan Kewangan 60 Ringkasan Keputusan Agenda IFRIC yang dimaklumkan pada 2021 selepas usia 46 tahun, dari tarikh pekerja mula berkhidmat sehingga berusia 62 tahun).
Rumusan IFRIC selaras dengan panduan yang digariskan dalam bahagian pertama Contoh 2 yang menggambarkan perenggan 73, yang merupakan sebahagian daripada IAS 19.

IFRIC merumuskan bahawa prinsip dan keperluan dalam Piawaian IFRS menyediakan asas yang mencukupi untuk entiti menentukan tempoh di mana manfaat persaraan dikaitkan dalam corak fakta yang diperinci dalam permohonan.
(6) Perakaunan untuk Waran yang Dikelaskan sebagai Liabiliti Kewangan pada Pengiktirafan Awal (IAS 32 Instrumen Kewangan: Pembentangan) IFRIC menerima permohonan mengenai pengaplikasian IAS 32 berkenaan pengelasan semula waran.

Secara khususnya, permohonon tersebut menerangkan suatu waran yang memberikan pemegangnya hak untuk membeli sejumlah tetap instrumen ekuiti penerbit waran pada harga laksana yang akan ditetapkan pada masa depan.
Pada pengiktirafan awal, oleh kerana kepelbagaian harga laksana, penerbit mengaplikasi perenggan 16 IAS 32 yang mengelaskan instrumen ini sebagai liabiliti kewangan.

Ini adalah kerana untuk instrumen kewangan derivatif dikelaskan sebagai ekuiti, ia mesti dijelaskan oleh penerbit dengan menukar sejumlah tetap tunai atau aset kewangan lain untuk sejumlah tetap instrumen ekuitinya sendiri (keadaan tetap-untuk-tetap).
Permohonan bertanyakan sama ada penerbit mengelaskan semula waran sebagai instrumen ekuiti berikutan penetapan harga pelaksanaan waran selepas pengiktirafan awal seperti yang dinyatakan dalam kontrak, memandangkan syarat tetap-untuk-tetap akan dipenuhi pada peringkat itu.

IFRIC mengamati bahawa IAS 32 tidak mengandungi keperluan am untuk mengelaskan semula liabiliti kewangan dan instrumen ekuiti selepas pengiktirafan awal apabila terma kontrak instrumen tidak berubah.
IFRIC mengakui bahawa soalan serupa tentang pengelasan semula timbul dalam situasi lain.

Pengelasan semula oleh penerbit telah dikenal pasti sebagai salah satu isu praktikal yang akan dipertimbangkan oleh IASB untuk ditangani dalam projek Instrumen Kewangan dengan Ciri-ciri Ekuiti (FICE).

IFRIC merumuskan bahawa perkara yang diperinci dalam permohonan, secara berasingan, adalah terlalu terhad untuk ditangani oleh IASB atau IFRIC dengan cara kos berkesan.
Sebaliknya, IASB harus mempertimbangkan perkara itu sebagai sebahagian daripada perbincangannya yang lebih meluas berkenaan projek FICE.

(7) Kos Konfigurasi atau Penyesuaian dalam Pengaturan Pengkomputeran Awam (IAS 38 Aset Tak Ketara) IFRIC menerima permohonan mengenai pelanggan yang memperakaunkan kos konfigurasi atau penyesuaian perisian aplikasi pembekal dalam pengaturan Perisian sebagai Perkhidmatan (SaaS).
Dalam menganalisa permohonan, IFRIC mempertimbangkan: (a) sama ada, dengan mengaplikasi IAS 38, pelanggan mengiktiraf aset tak ketara berkaitan konfigurasi atau penyesuaian perisian aplikasi; dan (b) jika aset tak ketara tak diiktiraf, bagaimana pelanggan memperakaun kos konfigurasi atau penyesuaian.
IFRIC mengamati bahawa: (a) dalam pengaturan SaaS seperti yang diperinci dalam permohonan, pelanggan sering tidak akan mengiktiraf aset tak ketara kerana ia tidak mengawal perisian yang dikonfigurasikan atau disesuaikan dan aktiviti konfigurasi atau penyesuaian tersebut tidak menghasilkan sumber yang dikawal oleh pelanggan yang berasingan daripada perisian.
(b) jika pelanggan tidak mengiktiraf aset tak ketara berkaitan konfigurasi atau penyesuaian perisian aplikasi, ia mengaplikasi perenggan 68-70 IAS 38 untuk memperakaunkan kos tersebut.

61 Yayasan Laporan Kewangan 2 0 2 1 Ringkasan Keputusan Agenda IFRIC yang dimaklumkan pada 2021 Di samping itu, perenggan 117-124 IAS 1 mengkehendaki pelanggan untuk mendedahkan dasar perakaunannya untuk kos konfigurasi atau penyesuaian apabila pendedahan tersebut relevan untuk pemahaman tentang penyata kewangannya.
IFRIC merumuskan bahawa prinsip dan keperluan dalam Piawaian IFRS menyediakan asas yang mencukupi untuk pelanggan menentukan perakaunan untuk kos konfigurasi atau penyesuaian yang terhasil berkaitan pengaturan SaaS seperti yang diperinci dalam permohonan.

2 0 2 1 Yayasan Laporan Kewangan 62 Draf Pernyataan Teknikal Dua puluh tiga (23) draf pernyataan teknikal telah diterbitkan untuk komen awam pada tahun 2021.
Ia merangkumi satu (1) Draf Pendedahan Yayasan IFRS, dua (2) Permohonan Maklumat IASB, sembilan (9) Draf Pendedahan IASB, sembilan (9) Keputusan Agenda Tentatif IFRIC dan dua (2) draf pernyataan teknikal MASB; yang mana butirannya adalah seperti di bawah.

No.
Tajuk Tarikh Terbitan Tarikh akhir komen kepada MASB Draf Pendedahan Yayasan IFRS 1 ED/2021/5 Cadangan Pindaan Bersasar kepada Perlembagaan Yayasan IFRS untuk Menubuhkan Lembaga Piawaian Kelestarian Antarabangsa bagi Menetapkan Piawaian Kelestarian IFRS Permohonan Maklumat IASB 2 Perundingan Agenda Ketiga 3 Semakan Pasca Pelaksanaan IFRS 9 Instrumen Kewangan—Pengelasan dan Pengukuran Draf Pendedahan IASB 4 ED/2021/1 Aset Kawal Selia dan Liabiliti Kawal Selia ED/2021/2 Konsesi Sewa Berkaitan Covid-19 melangkaui 30 Jun 2021 (Cadangan pindaan kepada IFRS 16 Pajakan) ED/2021/3 Keperluan Pendedahan dalam Piawaian IFRS—Pendekatan Rintis (Cadangan pindaan kepada IFRS 13 Pengukuran Nilai Saksama dan IAS 19 Manfaat Pekerja) ED/2021/4 Kekurangan Kebolehtukaran (Cadangan pindaan kepada IAS 21 Kesan Perubahan Kadar Tukaran Wang Asing) ED/2021/6 Komentar Pengurusan ED/2021/7 Anak Syarikat tanpa Kebertanggungjawaban Awam: Pendedahan ED/2021/8 Aplikasi Awal IFRS 17 dan IFRS 9— Maklumat Perbandingan (Cadangan pindaan kepada IFRS 17 Kontrak Insurans) ED/2021/9 Liabiliti Bukan Semasa dengan Kovenan (Cadangan pindaan kepada IAS 1 Pembentangan Penyata Kewangan) IASB ED/2021/10 Pengaturan Pembiayaan Pembekal (Cadangan pindaan kepada IAS 7 Penyata Aliran Tunai dan IFRS 7 Instrumen Kewangan: Pendedahan) Keputusan Agenda Tentatif IFRIC 13 Kos yang Diperlukan untuk Menjual Inventori (IAS 2 Inventori) 14 15 16 Penyediaan Penyata Kewangan apabila Entiti Bukan Lagi Usaha Berterusan (IAS 10 Peristiwa Selepas Tempoh Pelaporan) Cukai Nilai Ditambah Tanpa Bayaran Balik ke atas Bayaran Pajakan (IFRS 16 Pajakan) Perakaunan untuk Waran yang Dikelaskan sebagai Liabiliti Kewangan pada Pengiktirafan Awal (IAS 32 Instrumen Kewangan: Pembentangan) 63 Yayasan Laporan Kewangan 2 0 2 1 3 Mei 2021 30 Jun 2021 2 April 2021 13 Ogos 2021 1 Oktober 2021 31 Disember 2021 2 Februari 2021 30 Jun 2021 11 Februari 2021 19 Februari 2021 2 April 2021 18 November 2021 26 April 2021 30 Julai 2021 1 Jun 2021 22 Oktober 2021 29 Julai 2021 10 Disember 2021 29 Julai 2021 27 Ogos 2021 23 November 2021 22 Februari 2022 30 November 2021 28 Februari 2022 16 Februari 2021 19 Mac 2021 16 Februari 2021 19 Mac 2021 2 April 2021 30 April 2021 2 April 2021 30 April 2021 Draf Pernyataan Teknikal No.
Tajuk Tarikh Terbitan Tarikh akhir komen kepada MASB 16 Julai 2021 Manfaat Ekonomi daripada Penggunaan Ladang Angin (IFRS 16 Pajakan) 21 Jun 2021 Urus Niaga TLTRO III (IFRS 9 Instrumen Kewangan dan IAS 20 Perakaunan untuk Geran Kerajaan dan Pendedahan Bantuan Kerajaan) Tunai Diterima melalui Pindahan Elektronik sebagai Penyelesaian bagi Aset Kewangan (IFRS 9 Instrumen Kewangan) Deposit Permintaan dengan Sekatan Penggunaan (IAS 7 Penyata Aliran Tunai) Antara Prinsipal dengan Agen: Penjual semula Perisian (IFRS 15 Hasil daripada Kontrak dengan Pelanggan) 21 Jun 2021 16 Julai 2021 27 September 2021 25 Oktober 2021 27 September 2021 25 Oktober 2021 13 Disember 2021 14 Januari 2022 Draf Pernyataan Teknikal MASB 22 ED 78 Penyediaan penyata kewangan disatukan bagi kumpulan yang telah melupuskan satu-satunya anak syarikat pada tahun kewangan 23 Draf Buletin Isu 3 Pelaporan Qard dalam lajur Dana Takaful dalam Penyata Kewangan Entiti Takaful# # Diedarkan kepada kumpulan sasar untuk maklum balas 22 Februari 2021 24 Mac 2021 18 Februari 2021 12 Mac 2021 2 0 2 1 Yayasan Laporan Kewangan 64 Ringkasan Draf Pernyataan Teknikal yang diterbitkan pada 2021 Draf Pendedahan IFRSF ED/2021/5 Cadangan Pindaan Bersasar kepada Perlembagaan Yayasan IFRS untuk Menubuhkan Lembaga Piawaian Kelestarian Antarabangsa bagi Menetapkan Piawaian Kelestarian IFRS Pada bulan April 2021, Yayasan IFRS (IFRSF) mencadangkan pindaan kepada Perlembagaan IFRSF untuk memberi ruang kepada kemungkinan penubuhan dan pengoperasian Lembaga Piawaian Kelestarian Antarabangsa (ISSB) yang baharu dalam struktur tadbir urus organisasi IFRSF.
Pindaan tersebut merangkumi semakan kepada objektif IFRSF dan pengaturan institusi untuk ISSB.

Cadangan pindaan ini merupakan maklum balas kepada Kertas Perundingan mengenai Pelaporan Kelestarian (Kertas Perundingan) yang diterbitkan oleh IFRSF pada bulan September 2020 yang mengesahkan bahawa wujud permintaan yang semakin mendesak untuk piawaian pelaporan kelestarian global.
Di samping itu, terdapat persetujuan meluas di kalangan responden terhadap Kertas Perundingan bahawa IFRSF harus memainkan peranan utama dalam pembangunan piawaian tersebut.
Pindaan bersasar yang dicadangkan terhadap Perlembagaan telah diterbitkan untuk mendapatkan input tentang (a) sama ada struktur tadbir urus yang dicadangkan akan mewujudkan pengawalseliaan secara sah terhadap penetapan piawaian oleh lembaga baharu; dan (b) sama ada pindaan yang dicadangkan adalah berkadaran dengan strategi IFRSF berhubung potensi kerja lembaga baharu.
Yayasan dan MASB mengikuti perkembangan antarabangsa mengenai pelaporan kelestarian dan telah memantau rapi perkembangan itu sejak penerbitan Kertas Perundingan.

Dalam hal ini, MASB telah menubuhkan Kumpulan Kerja (WG) 71 Pelaporan Kelestarian untuk menyediakan platform bagi pihak berkepentingan untuk membincangkan dan memberi maklum balas kepada draf pernyataan teknikal yang diterbitkan IFRSF.
WG 71 telah mengadakan mesyuarat sulungnya pada bulan September 2021 dan ia terdiri daripada: Pengerusi : Datuk Mohd Nasir Ahmad Pengurus Projek : Herbert Chua (PricewaterhouseCoopers PLT) Ahli : Dato' Mohammad Faiz Azmi (wakil daripada) Aberdeen Standard Islamic Investments (Malaysia) Sdn Bhd Allianz Malaysia Boustead Heavy Industries Corporation Berhad Great Eastern Takaful Berhad Kossan Rubber Industries Bhd Kumpulan Simpanan Wang Pekerja Malayan Banking Berhad PETRONAS RAM Sustainability Sdn Bhd Tenaga Nasional Berhad Majlis Pelabur Institusi Malaysia BDO PLT Ernst & Young PLT KPMG PLT Universiti Sains Malaysia Bank Negara Malaysia Suruhanjaya Syarikat Malaysia 65 Yayasan Laporan Kewangan 2 0 2 1 Ringkasan Draf Pernyataan Teknikal yang diterbitkan pada 2021 Permohonan Maklumat IASB Perundingan Agenda Ketiga IASB menjalankan perundingan awam mengenai aktiviti dan pelan kerjanya setiap lima tahun (perundingan agenda).
Objektif perundingan agenda ini adalah untuk mengumpul pandangan mengenai: ● ● hala tuju strategik dan keseimbangan aktiviti IASB; kriteria dalam menilai keutamaan isu pelaporan kewangan yang boleh dimasukkan ke dalam pelan kerja; dan ● isu pelaporan kewangan baharu yang boleh diberi keutamaan dalam pelan kerja IASB.
Maklum balas kepada Permohonan Maklumat ini akan membantu pembentukan pemikiran IASB apabila menyusun aktiviti dan projek baharu mengikut keutamaan dalam pelan kerja mereka bagi tahun 2022 hingga 2026.

Perundingan agenda ini menumpukan aktiviti dalam skop kerja semasa IASB – penyata kewangan dan komentar pengurusan untuk syarikat berorientasikan keuntungan.
WG 51 Projek Penambahbaikan, Jawatankuasa Interpretasi (IC) dan Jawatankuasa Aplikasi dan Pelaksanaan MFRS (MAIC) diberi tanggungjawab untuk mempertimbangkan draf pernyataan teknikal di atas.
WG 51 terdiri daripada: Pengerusi Pengurus Projek Ahli / Jemputan (wakil daripada) : : : Encik Lee Kong Weng Sekretariat MASB Tenaga Nasional Berhad BDO PLT Deloitte PLT KPMG PLT PricewaterhouseCoopers PLT Universiti Islam Antarabangsa Malaysia Institut Akauntan Awam Bertauliah Malaysia Institut Akauntan Malaysia Persatuan Bank-Bank dalam Malaysia Persekutuan Syarikat Awam Tersenarai Berhad Bursa Malaysia Berhad Suruhanjaya Sekuriti Malaysia Suruhanjaya Syarikat Malaysia IC terdiri daripada: Pengerusi : Datuk Mohd Nasir Ahmad Pengurus Projek Ahli : : Sekretariat MASB Puan Farnida Ngah (UMW Holdings Berhad) (dilantik pada 1 Januari 2022) Encik Chua Siam Keong (letak jawatan pada 31 Disember 2021) Puan Sim Siew Shan (Airasia Berhad) (dilantik pada 1 Januari 2022) Puan Wong Yee Fun (Genting Berhad) (bersara pada 31 Disember 2021) Puan Ho Say Keng (YTL Corporation Berhad) Encik Tang Seng Choon (BDO PLT) 2 0 2 1 Yayasan Laporan Kewangan 66 Ringkasan Draf Pernyataan Teknikal yang diterbitkan pada 2021 Encik Edwin Tan Aik Win (Deloitte PLT) Encik Teoh Soo Hock (Ernst & Young PLT) Encik Thong Foo Vung (KPMG PLT) Cik Siew Kar Wai (PricewaterhouseCoopers PLT) Encik Kevin Lim Chong Yeow (RAM Holdings Berhad) Dato’ Megat Iskandar Shah Mohamad Nor (Institut Akauntan Awam Bertauliah Malaysia) Encik Jalalullail Othman (Shook Lin & Bok) Prof. Madya Dr. Fatima Abdul Hamid (Universiti Islam Antarabangsa Malaysia) Pemerhati : Bank Negara Malaysia (wakil daripada) Bursa Malaysia Berhad Institut Akauntan Malaysia Suruhanjaya Sekuriti Malaysia Suruhanjaya Syarikat Malaysia Untuk MAIC, rujuk bahagian Jawatankuasa Aplikasi dan Pelaksanaan MFRS dalam Laporan Tahunan ini.
Permohonan Maklumat IASB: Semakan Pasca Pelaksanaan IFRS 9 Instrumen Kewangan— Pengelasan dan Pengukuran IASB sedang menjalankan semakan pasca pelaksanaan IFRS 9 Instrumen Kewangan.

IFRS 9 menggantikan IAS 39 Instrumen Kewangan: Pengiktirafan dan Pengukuran.
Penambahbaikan kepada perakaunan untuk instrumen kewangan yang diperkenalkan oleh IFRS 9 berbanding IAS 39 termasuklah: ● pendekatan pengelasan dan pengukuran untuk aset kewangan yang mencerminkan model perniagaan entiti dan ciri-ciri aliran tunai aset.

● model kerugian kredit dijangka berpandangan ke hadapan telah menghasilkan pengiktirafan kerugian pinjaman yang lebih tepat pada masanya.
● model perakaunan lindung nilai dengan hubungan yang lebih baik antara pengurusan risiko ekonomi dan pengolahan perakaunannya.

IFRS 9 telah berkuat kuasa sejak tahun 2018.

Semakan pasca pelaksanaan IFRS 9 akan dilakukan secara berperingkat, bermula dengan Permohonan Maklumat ini dengan melihat keperluan pengelasan dan pengukuran dalam IFRS 9 dan pendedahan yang berkaitan.

Semakan pasca pelaksanaan tentang rosot nilai dan keperluan perakaunan lindung nilai Piawaian ini akan menyusul kemudian.
Instrumen Kewangan: Pengiktirafan dan Pengukuran diberi tanggungjawab untuk WG 60 mempertimbangkan draf pernyataan teknikal di atas, dan komen daripada perspektif kewangan Islam juga turut ditanyakan kepada Jawatankuasa Tetap Pelaporan Kewangan Islam.
WG 60 terdiri daripada: Pengerusi : Encik Chan Hooi Lam Pengurus Projek : Dato’ Megat Iskandar Shah Mohamad Nor (Ernst & Young PLT) Ahli / Jemputan : AmBank Group Berhad (wakil daripada) HSBC Bank Malaysia Berhad Permodalan Nasional Berhad Public Bank Berhad 67 Yayasan Laporan Kewangan 2 0 2 1 Ringkasan Draf Pernyataan Teknikal yang diterbitkan pada 2021 RAM Holdings Berhad Telekom Malaysia Berhad Tenaga Nasional Berhad Deloitte PLT KPMG PLT PricewaterhouseCoopers PLT Institut Akauntan Malaysia Persatuan Insurans Hayat Malaysia Persatuan Pengurus Aset Malaysia Persatuan Perbankan Islam dan Institusi Kewangan Malaysia Persatuan Perbankan Pelaburan Malaysia Persatuan Bank-Bank dalam Malaysia Persekutuan Syarikat Awam Tersenarai Berhad Bank Negara Malaysia Bursa Malaysia Berhad Suruhanjaya Sekuriti Malaysia Suruhanjaya Syarikat Malaysia Draf Pendedahan IASB ED/2021/1 Aset Kawal Selia dan Liabiliti Kawal Selia Draf Pendedahan ini memperkenalkan cadangan untuk piawaian perakaunan baharu yang memerlukan syarikat yang tertakluk kepada pengawalseliaan kadar untuk melaporkan aset kawal selia dan liabiliti kawal selia dalam kunci kira-kira, serta pendapatan kawal selia dan perbelanjaan kawal selia yang berkaitan dalam penyata pendapatan.
Maklumat ini akan melengkapkan maklumat yang telah disediakan oleh syarikat dengan mengaplikasi Piawaian IFRS semasa dan memberi pelabur gambaran yang lebih lengkap.

Maklumat tambahan ini akan membantu pelabur memahami turun naik hubungan antara hasil dan belanja syarikat yang disebabkan oleh perbezaan dalam pemasaan dan membolehkan pelabur membuat penilaian terhadap prospek syarikat untuk aliran tunai masa depan dengan lebih baik.
Jika diterbitkan sebagai Piawaian IFRS baharu, cadangan IASB tersebut akan menggantikan IFRS 14 Akaun Penundaan Kawal Selia, sebuah Piawaian interim yang membenarkan pelbagai pendekatan perakaunan untuk kesan pengawalseliaan kadar diteruskan buat sementara waktu.
WG 68 Aktiviti Kawal Selia Kadar diberi tanggungjawab untuk mempertimbangkan draf pernyataan teknikal di atas, dan ia terdiri daripada: Pengerusi Pengurus Projek : : Encik New Kheng Chee Encik Irvin Menezes (PricewaterhouseCoopers PLT) Ahli / Jemputan : Gas Malaysia Berhad (wakil daripada) PETRONAS Gas Berhad Taliworks Corporation Berhad Telekom Malaysia Berhad Tenaga Nasional Berhad YTL Corporation Berhad Deloitte PLT KPMG PLT Institut Akauntan Malaysia Lembaga Hasil Dalam Negeri Malaysia Suruhanjaya Sekuriti Malaysia Suruhanjaya Syarikat Malaysia 2 0 2 1 Yayasan Laporan Kewangan 68 Ringkasan Draf Pernyataan Teknikal yang diterbitkan pada 2021 Draf Pendedahan IASB ED/2021/2 Konsesi Sewa Berkaitan Covid-19 melangkaui 30 Jun 2021 (Cadangan pindaan kepada IFRS 16 Pajakan) Pada bulan Mei 2020, IASB menerbitkan Konsesi Sewa Berkaitan Covid-19 (Pindaan kepada IFRS 16) yang membenarkan penerima pajak, sebagai manfaat praktikal, untuk tidak menaksir sama ada konsesi sewa tertentu yang berlaku akibat kesan langsung daripada pandemik COVID-19 adalah pengubahsuaian pajakan dan, sebaliknya, memperakaunkan konsesi sewa tersebut seolah-olah ia bukan pengubahsuaian pajakan.
Pindaan ini meliputi tempoh bagi pembayaran pajakan yang asalnya perlu dibayar pada atau sebelum 30 Jun 2021.

Sebagai maklum balas kepada pihak berkepentingan dan kerana pandemik COVID-19 masih di tahap meruncing, IASB bercadang untuk melanjutkan pelepasan kepada konsesi sewa yang mana sebarang pengurangan bayaran pajakan hanya melibatkan pembayaran yang asalnya perlu dibayar pada atau sebelum 30 Jun 2022, asalkan syarat lain untuk mengaplikasi manfaat praktikal dipenuhi.
WG 67 Pajakan diberi tanggungjawab untuk mempertimbangkan draf pernyataan teknikal di atas, dan ia terdiri daripada: Pengerusi : Dato’ Soo Chan Fai Pengurus Projek Ahli / Jemputan (wakil daripada) : : Encik Thong Foo Vung (KPMG PLT) AirAsia Group Berhad Permodalan Nasional Berhad Tenaga Nasional Berhad PricewaterhouseCoopers PLT Institut Akauntan Malaysia Persatuan Pengurus REIT Malaysia Persekutuan Syarikat Awam Tersenarai Berhad Bank Negara Malaysia Bursa Malaysia Berhad Suruhanjaya Sekuriti Malaysia Draf Pendedahan IASB ED/2021/3 Keperluan Pendedahan dalam Piawaian IFRS—Pendekatan Rintis (Cadangan pindaan kepada IFRS 13 Pengukuran Nilai Saksama dan IAS 19 Manfaat Pekerja) IASB telah membangunkan panduan untuk mereka sendiri bagi membangun dan merangka keperluan pendedahan dalam Piawaian IFRS pada masa depan (cadangan Panduan).
IASB telah mengaplikasi cadangan Panduan semasa membangunkan cadangan pindaan untuk bahagian pendedahan dalam IFRS 13 dan IAS 19.

IASB menerbitkan Draf Pendedahan ini untuk mendapatkan maklum balas mengenai kedua-dua cadangan Panduan dan cadangan pindaan kepada IFRS 13 dan IAS 19.

Cadangan ini akan membolehkan syarikat meningkatkan pertimbangan mereka dan mengurangkan maklumat 'boilerplate', lantas memberi pelabur maklumat yang lebih berguna.
Penyata kewangan kadangkala mengandungi maklumat berkaitan yang terlalu sedikit, maklumat tidak berkaitan yang terlalu banyak dan maklumat didedahkan secara tidak berkesan.

Pihak berkepentingan menyatakan ini biasanya berlaku apabila keperluan dalam Piawaian IFRS dianggap seperti senarai semak tanpa menggunakan pertimbangan secara berkesan.
Sebagai maklum balas kepada desakan pihak berkepentingan yang meminta IASB untuk menangani isu ini, IASB telah menetapkan pendekatan baharu untuk membangunkan keperluan pendedahan dalam Piawaian IFRS.

Keperluan pendedahan yang dibangunkan menggunakan pendekatan ini bertujuan untuk lebih membolehkan syarikat, juruaudit dan pihak lain membuat pertimbangan kematanan secara lebih berkesan dan dengan demikian dapat menyediakan pendedahan yang lebih berguna kepada pelabur.
69 Yayasan Laporan Kewangan 2 0 2 1 Ringkasan Draf Pernyataan Teknikal yang diterbitkan pada 2021 IASB akan mempertimbangkan maklum balas terhadap Draf Pendedahan ini dalam menentukan sama ada akan menggunakan cadangan Panduan dalam aktiviti penetapan piawaian pada masa depan.

Jika IASB memutuskan untuk menggunakan cadangan Panduan dalam aktiviti penetapan piawaian pada masa depan, cadangan Panduan mungkin akan dikemas kini berdasarkan maklum balas yang diterima terhadap Draf Pendedahan ini.
WG 70 Inisiatif Pendedahan diberi tanggungjawab untuk mempertimbangkan draf pernyataan teknikal di atas, dan ia terdiri daripada: Pengerusi Pengurus Projek : : Encik Lee Kong Weng Encik Danny Tan Boon Wooi (CR Consultancy) Ahli / Jemputan : CIMB Islamic Bank Berhad (wakil daripada) Malayan Banking Berhad Malaysian Rating Corporation Berhad Sime Darby Berhad Telekom Malaysia Berhad Tenaga Nasional Berhad Ernst & Young PLT KPMG PLT PricewaterhouseCoopers PLT Persekutuan Syarikat Awam Tersenarai Berhad Institut Akauntan Awam Bertauliah Malaysia Institut Akauntan Malaysia Bank Negara Malaysia Bursa Malaysia Berhad Suruhanjaya Sekuriti Malaysia Suruhanjaya Syarikat Malaysia Draf Pendedahan IASB ED/2021/4 Kekurangan Kebolehtukaran (Cadangan pindaan kepada IAS 21 Kesan Perubahan Kadar Tukaran Wang Asing) Cadangan pindaan kepada IAS 21 bertujuan membantu syarikat menentukan sama ada suatu mata wang boleh ditukar kepada mata wang lain, dan perakaunan apa yang perlu diaplikasi jika mata wang itu tidak boleh ditukar.
IAS 21 menetapkan kadar pertukaran yang digunakan syarikat apabila ia melaporkan urus niaga mata wang asing atau keputusan operasi asing dalam mata wang yang berbeza.

Walau bagaimanapun, Piawaian tidak menetapkan kadar pertukaran yang perlu digunakan apabila tiada kadar pertukaran yang dapat diperhatikan yang boleh digunakan oleh syarikat – contohnya apabila mata wang tidak boleh ditukar kepada mata wang asing.
Oleh itu, IASB bercadang menambah keperluan kepada IAS 21 untuk entiti menentukan sama ada suatu mata wang boleh ditukar kepada mata wang lain, dan keperluan perakaunan untuk diaplikasi apabila ia tidak boleh ditukar.
Cadangan pindaan akan menambah baik kebergunaan maklumat yang disediakan kepada pelabur dengan menggunakan pendekatan yang konsisten dalam menentukan sama ada suatu mata wang boleh ditukar kepada mata wang lain dan, apabila tidak, menentukan kadar pertukaran yang perlu digunakan dan pendedahan yang perlu disediakan.

WG 51 diberi tanggungjawab untuk mempertimbangkan draf pernyataan teknikal di atas.

Butiran mengenai WG 51 telah dibentangkan di atas.


2 0 2 1 Yayasan Laporan Kewangan 70 Ringkasan Draf Pernyataan Teknikal yang diterbitkan pada 2021 Draf Pendedahan IASB ED/2021/6 Komentar Pengurusan IASB telah membangunkan cadangan rangka kerja komprehensif baharu yang membolehkan syarikat mengumpulkan maklumat yang diperlukan oleh pelabur dan pemiutang dalam komentar pengurusan untuk menilai prospek jangka panjang syarikat.
Cadangan rangka kerja ini menggambarkan rombakan secara besar-besaran Penyata Amalan 1 IFRS Komentar Pengurusan.

Ia dibina atas inovasi dalam pelaporan naratif dan akan membolehkan syarikat mengumpulkan maklumat yang diperlukan oleh pelabur di satu tempat untuk menilai prospek jangka panjang syarikat – seperti maklumat berkaitan sumber dan perhubungan tak ketara syarikat dan berkenaan hal kelestarian yang memberi kesan kepada syarikat.
Ia juga menetapkan objektif pendedahan untuk maklumat berkaitan model perniagaan, strategi, sumber dan perhubungan, risiko, persekitaran luaran serta prestasi dan kedudukan kewangan syarikat; direka untuk membolehkan syarikat mengenal pasti dan menyediakan maklumat yang material kepada pelabur, dan untuk membolehkan pengawal selia dan juruaudit menaksir pematuhan terhadap cadangan rangka kerja.

Jika dimuktamadkan, rangka kerja ini akan menggantikan Penyata Amalan 1 IFRS.
Penyata kewangan boleh mematuhi Piawaian IFRS walaupun tidak disertakan dengan komentar pengurusan, atau jika komentar pengurusan yang disertakan tidak mematuhi Penyata Amalan.

IASB tidak mencadangkan sebarang perubahan kepada syarat tersebut.
WG 58 Komentar Pengurusan diberi tanggungjawab untuk mempertimbangkan draf pernyataan teknikal di atas, dan ia terdiri daripada: Pengerusi : Dato’ Soo Chan Fai Pengurus Projek Ahli / Jemputan (wakil daripada) : : Sekretariat MASB Axiata Group Berhad KPJ Healthcare Berhad Public Bank Berhad Tenaga Nasional Berhad Deloitte PLT Ernst & Young PLT KPMG PLT PricewaterhouseCoopers PLT Institut Akauntan Malaysia Persekutuan Syarikat Awam Tersenarai Berhad Bank Negara Malaysia Bursa Malaysia Berhad Suruhanjaya Syarikat Malaysia 71 Yayasan Laporan Kewangan 2 0 2 1 Ringkasan Draf Pernyataan Teknikal yang diterbitkan pada 2021 Draf Pendedahan IASB ED/2021/7 Anak Syarikat tanpa Kebertanggungjawaban Awam: Pendedahan Draf Pendedahan ini menggariskan cadangan IASB untuk Piawaian IFRS baharu Anak Syarikat tanpa Kebertanggungjawaban Awam: Pendedahan (draf Piawaian).
Cadangan ini menjawab maklum balas daripada pihak berkepentingan dan direka untuk memudahkan pelaporan kewangan bagi anak syarikat yang layak sambil memenuhi keperluan pengguna penyata kewangan mereka.
Draf Piawaian akan membenarkan anak syarikat mengaplikasi keperluan pendedahan yang dikurangkan apabila mengaplikasi Piawaian IFRS ke atas penyata kewangan dengan syarat: (a) anak syarikat tidak mempunyai kebertanggungjawaban awam; dan (b) induk muktamad atau induk pertengahan mengeluarkan penyata kewangan disatukan tersedia untuk kegunaan awam yang mematuhi Piawaian IFRS.
Draf Pendedahan mencadangkan Piawaian IFRS baharu yang akan: (a) menjadi pilihan untuk anak syarikat yang layak untuk mengaplikasi; (b) menggariskan keperluan pendedahan untuk anak syarikat yang memilih untuk mengaplikasi Piawaian; dan (c) memperinci keperluan pendedahan dalam Piawaian IFRS lain yang tidak terpakai dan akan digantikan jika anak syarikat memilih untuk mengaplikasi draf Piawaian.
Draf Pendedahan telah dibangunkan dengan mengambil kira kesemua Piawaian IFRS yang diterbitkan oleh IASB sehingga 28 Februari 2021 dan draf pendedahan yang diterbitkan sehingga 1 Januari 2021, kecuali Draf Pendedahan Pembentangan dan Pendedahan Am.

WG 54 Pelaporan Kewangan oleh Entiti Kecil dan Sederhana dan WG 70 diberi tanggungjawab untuk mempertimbangkan draf pernyataan teknikal di atas.
WG 54 terdiri daripada: Pengerusi Pengurus Projek Ahli / Jemputan (wakil daripada) : : : Encik Lee Kong Weng Encik Danny Tan Boon Wooi (CR Consultancy) Encik Khairuddin Ibrahim Ernst & Young PLT KPMG PLT Mustapha, Khoo & Co PricewaterhouseCoopers PLT Universiti Sunway Institut Akauntan Awam Bertauliah Malaysia Institut Akauntan Malaysia Persatuan Bank-Bank dalam Malaysia Persekutuan Syarikat Awam Tersenarai Berhad Lembaga Hasil Dalam Negeri Malaysia Suruhanjaya Syarikat Malaysia Butiran mengenai WG 70 telah dibentangkan di atas.
2 0 2 1 Yayasan Laporan Kewangan 72 Ringkasan Draf Pernyataan Teknikal yang diterbitkan pada 2021 Draf Pendedahan IASB ED/2021/8 Aplikasi Awal IFRS 17 dan IFRS 9—Maklumat Perbandingan (Cadangan pindaan kepada IFRS 17 Kontrak Insurans) IASB mencadangkan pindaan berskop terhad kepada keperluan peralihan IFRS17 Kontrak Insurans untuk entiti yang pertama kali mengaplikasi IFRS 17 dan IFRS 9 pada masa yang sama.
Cadangan pindaan ini berkait dengan aset kewangan di mana maklumat perbandingan yang dibentangkan pada aplikasi awal IFRS 17 dan IFRS 9 tidak dinyatakan semula untuk IFRS 9.

Dengan ini, syarikat akan dibenarkan untuk membentangkan maklumat mengaplikasi cadangan pindaan perbandingan tentang aset kewangan tersebut seolah-olah keperluan pengelasan dan pengukuran IFRS 9 telah diaplikasi kepada aset kewangan tersebut.

Draf Pendedahan ini tidak mencadangkan perubahan kepada keperluan peralihan dalam IFRS 9.
WG 52 Kontrak Insurans diberi tanggungjawab untuk mempertimbangkan draf pernyataan teknikal di atas, dan ia terdiri daripada: Pengerusi : Encik Ken Pushpanathan Pengurus Projek : Cik Angie Wong (PricewaterhouseCoopers PLT) Ahli / Jemputan (wakil daripada) : Actuarial Partners Consulting Sdn.

Bhd.
AXA Affin General Insurance Berhad Danajamin Nasional Berhad Etiqa General Insurance Berhad TAS Actuaries Ernst & Young PLT KPMG PLT Institut Akauntan Malaysia Perbadanan Insurans Deposit Malaysia Persatuan Insurans Am Malaysia Persatuan Insurans Hayat Malaysia Persatuan Takaful Malaysia Bank Negara Malaysia Draf Pendedahan IASB ED/2021/9 Liabiliti Bukan Semasa dengan Kovenan (Cadangan pindaan kepada IAS 1 Pembentangan Penyata Kewangan) IAS 1 Pembentangan Penyata Kewangan) Pada Januari 2020, IASB telah menerbitkan Pengelasan Liabiliti sebagai Semasa atau Bukan Semasa (Pindaan kepada [Pindaan 2020].
Pindaan 2020 menjelaskan aspek bagaimana entiti mengelaskan liabiliti sebagai semasa atau bukan semasa; khususnya, cara entiti menaksir sama ada ia mempunyai hak untuk menangguhkan penyelesaian liabiliti apabila hak tersebut tertakluk kepada pematuhan syarat tertentu (sering dirujuk sebagai 'kovenan') dalam masa dua belas bulan selepas tempoh pelaporan.
Berikutan kebimbangan yang dibangkitkan oleh pihak berkepentingan tentang hasil dan kesan yang berkemungkinan daripada Pindaan 2020 dalam beberapa situasi serta maklumat baharu yang tidak dipertimbangkan IASB semasa membangunkan Pindaan, IASB memutuskan untuk mencadangkan pindaan berskop terhad kepada IAS 1.
Pindaan yang dicadangkan akan: ● memperinci bahawa syarat yang perlu dipatuhi oleh entiti dalam tempoh dua belas bulan selepas tempoh pelaporan tidak menjejaskan pengelasan liabiliti sebagai semasa atau bukan semasa.

Sebaliknya, entiti akan membentangkan secara berasingan, dan mendedahkan maklumat tentang liabiliti bukan semasa yang tertakluk kepada syarat tersebut.
73 Yayasan Laporan Kewangan 2 0 2 1 Ringkasan Draf Pernyataan Teknikal yang diterbitkan pada 2021 ● menangguhkan tarikh kuat kuasa Pindaan 2020 supaya entiti tidak perlu mengubah penaksiran mereka terhadap pengelasan liabiliti sebelum pindaan yang dicadangkan berkuat kuasa.
IASB membuat kesimpulan bahawa cadangan pindaan ini akan menambah baik maklumat yang disediakan oleh entiti apabila haknya untuk menangguhkan penyelesaian liabiliti tertakluk kepada pematuhan syarat, selain menangani kebimbangan yang dibangkitkan.

WG 53 Pembentangan Penyata Kewangan diberi tanggungjawab untuk mempertimbangkan draf pernyataan teknikal di atas, dan komen juga diminta daripada IC.
WG 53 terdiri daripada: Pengerusi Pengurus Projek Ahli / Jemputan (wakil daripada) : : : Tengku Dato’ Sri Azmil Zahruddin Raja Abdul Aziz Encik Danny Tan Boon Wooi (CR Consultancy) Public Bank Berhad Sime Darby Berhad Telekom Malaysia Berhad Tenaga Nasional Berhad BDO PLT Crowe Malaysia PLT Deloitte PLT Ernst & Young PLT KPMG PLT PricewaterhouseCoopers PLT Institut Akauntan Awam Bertauliah Malaysia Institut Akauntan Malaysia Persekutuan Syarikat Awam Tersenarai Berhad Bank Negara Malaysia Bursa Malaysia Berhad Suruhanjaya Sekuriti Malaysia Suruhanjaya Syarikat Malaysia Draf Pendedahan IASB ED/2021/10 Pengaturan Pembiayaan Pembekal (Cadangan pindaan kepada IAS 7 Penyata Aliran Tunai dan IFRS 7 Instrumen Kewangan: Pendedahan) Cadangan dalam Draf Pendedahan ini bertujuan untuk melengkapkan keperluan pendedahan dalam Piawaian IFRS yang digunakan untuk pemfaktoran berbalik dan pengaturan serupa (seperti yang dijelaskan dalam Keputusan Agenda Pengaturan Pembiayaan Rantaian Bekalan—Pemfaktoran Berbalik yang diterbitkan IFRIC pada Disember 2020).
Cadangan pindaan kepada IAS 7 dan IFRS 7 memerlukan entiti untuk mendedahkan maklumat tambahan dalam nota mengenai pengaturan tersebut.

Draf Pendedahan ini menggunakan 'pengaturan pembiayaan pembekal' untuk merujuk kepada pemfaktoran berbalik atau pengaturan lain yang serupa.
Cadangan pindaan akan: ● memberi kesan kepada suatu entiti di mana, sebagai pembeli, ia terlibat dalam satu atau lebih pengaturan pembiayaan pembekal (seperti yang diperinci dalam cadangan), di mana entiti itu, atau pembekalnya, boleh mengakses pembiayaan untuk jumlah hutang entiti kepada pembekalnya.
2 0 2 1 Yayasan Laporan Kewangan 74 Ringkasan Draf Pernyataan Teknikal yang diterbitkan pada 2021 ● membolehkan pengguna penyata pembiayaan mendapatkan maklumat daripada penyata kewangan supaya mereka dapat menilai kesan pengaturan kewangan pembekal ke atas liabiliti dan aliran tunai entiti, serta risiko kecairan dan pengurusan risiko.

Komen telah diminta daripada IC dan WG 60.
Keputusan Agenda Tentatif IFRIC Berikut adalah Keputusan Agenda Tentatif yang diterbitkan pada 2021 tetapi belum dimuktamadkan oleh IFRIC: (1) Manfaat Ekonomi daripada Penggunaan Ladang Angin (IFRS 16 Pajakan) IFRIC menerima permohonan mengenai sama ada, mengaplikasi perenggan B9(a) IFRS 16, peruncit elektrik (pelanggan) mempunyai hak untuk memperoleh sebahagian besar manfaat ekonomi daripada penggunaan ladang angin sepanjang tempoh perjanjian dengan penjana ladang angin (pembekal).
IFRIC mengamati bahawa, dalam corak fakta yang diperinci dalam permohonan, manfaat ekonomi daripada penggunaan ladang angin merangkumi tenaga elektrik yang dihasilkan (sebagai keluaran utama) dan kredit tenaga boleh diperbaharui (sebagai produk sampingan atau manfaat ekonomi lain daripada penggunaan ladang angin).
IFRIC membuat kesimpulan bahawa, melalui corak fakta yang diperinci dalam permohonan, pelanggan tidak mempunyai hak untuk memperoleh sebahagian besar manfaat ekonomi daripada penggunaan ladang angin.

Oleh itu, kontrak tidak mengandungi pajakan.


IFRIC merumuskan bahawa prinsip dan keperluan dalam Piawaian IFRS menyediakan asas yang mencukupi untuk pelanggan yang memeterai perjanjian seperti yang diperinci dalam permohonan untuk menentukan sama ada ia mempunyai hak untuk memperoleh sebahagian besar manfaat ekonomi daripada penggunaan aset yang dikenal pasti.
(2) Urus Niaga TLTRO III (IFRS 9 Instrumen Kewangan dan IAS 20 Perakaunan untuk Geran Kerajaan dan Pendedahan Bantuan Kerajaan) IFRIC menerima permohonan mengenai cara memperakaunkan program ketiga operasi pembiayaan semula berjangka lebih panjang bersasar (TLTRO) Pusat Bank Eropah (ECB).
TLTRO menghubungkan amaun yang boleh dipinjam oleh bank yang mengambil bahagian dan kadar faedah yang dibayar oleh bank pada setiap tranche operasi dengan kuantiti dan amaun pinjaman yang diberi kepada syarikat bukan kewangan dan isi rumah.
Permohonan bertanyakan: (a) tranche TLTRO sama ada faedah di bawah pasaran dan, jika ya, sama ada bank peminjam perlu mengaplikasi IFRS 9 atau IAS 20 untuk memperakaunkan manfaat kadar faedah di bawah pasaran; III mewakili pinjaman dengan kadar (b) jika bank mengaplikasi IAS 20 untuk memperakaunkan manfaat kadar faedah di bawah pasaran: (i) bagaimana ia menilai tempoh mana ia mengiktiraf manfaat itu; dan (ii) sama ada, untuk tujuan pembentangan, bank menambah jumlah manfaat kepada amaun dibawa liabiliti TLTRO III; (c) bagaimana bank mengira kadar faedah berkesan yang dikenakan; 75 Yayasan Laporan Kewangan 2 0 2 1 Ringkasan Draf Pernyataan Teknikal yang diterbitkan pada 2021 (d) (e) sama ada bank mengaplikasi perenggan B5.4.6 IFRS 9 untuk memperakaunkan perubahan dalam anggaran aliran tunai hasil daripada penaksiran yang disemak tentang sama ada syarat yang dilampirkan pada liabiliti telah dipenuhi; dan bagaimana bank memperakaunkan perubahan dalam aliran tunai yang berkaitan dengan tempoh terdahulu yang terhasil daripada amalan pemberian pinjaman bank atau daripada perubahan yang dibuat oleh ECB kepada syarat TLTRO III.
IFRIC merumuskan bahawa jika bank menentukan tranche TLTRO III mengandungi geran kerajaan di bawah skop IAS 20, keperluan dalam IAS 20 menyediakan asas yang mencukupi untuk entiti menentukan bagaimana memperakaunkan geran kerajaan tersebut.
faedah harus Berkenaan persoalan sama ada syarat yang dilampirkan bersama kadar dicerminkan dalam anggaran dan semakan aliran tunai dijangka masa depan apabila menentukan kadar faedah berkesan, IFRIC merumuskan bahawa perkara yang diperinci dalam permohonan adalah sebahagian daripada perkara yang lebih luas, di mana secara berasingan, tidak mungkin ditangani dengan cara kos berkesan dan harus dilaporkan kepada IASB.
IASB harus mempertimbangkan perka- ra ini sebagai sebahagian daripada semakan pasca pelaksanaan bagi keperluan pengelasan dan pengukuran dalam IFRS 9.

(3) Tunai Diterima melalui Pindahan Elektronik sebagai Penyelesaian bagi Aset Kewangan (IFRS 9 Instrumen Kewangan) IFRIC menerima permohonan mengenai pengiktirafan tunai yang diterima melalui sistem pindahan elektronik sebagai penyelesaian untuk aset kewangan.
Permohonan bertanyakan sama ada entiti boleh menyahiktiraf perdagangan belum terima dan mengiktiraf tunai pada tarikh pindahan tunai dibuat (pada tarikh pelaporan), dan bukannya pada tarikh pindahan tunai diselesaikan (selepas tarikh pelaporan).
IFRIC mengamati bahawa, jika hak kontrak entiti terhadap aliran tunai daripada perdagangan belum terima tamat sebelum tarikh penyelesaian pindahan, entiti akan mengiktiraf sebarang aset kewangan yang diterima sebagai penyelesaian untuk perdagangan belum terima (contohnya, hak untuk menerima tunai daripada bank pelanggan) pada tarikh yang sama.
Walau bagaimanapun, entiti tidak akan mengiktiraf tunai (atau aset kewangan lain) yang diterima sebagai penyelesaian untuk perdagangan belum terima sebelum ia menyahiktiraf perdagangan belum terima.

IFRIC merumuskan bahawa prinsip dan keperluan dalam Piawaian IFRS menyediakan asas yang mencukupi untuk entiti menentukan bila untuk menyahiktiraf perdagangan belum terima dan mengiktiraf tunai yang diterima melalui sistem pindahan elektronik sebagai penyelesaian bagi belum terima tersebut.
(4) Deposit Permintaan dengan Sekatan Penggunaan (IAS 7 Penyata Aliran Tunai) IFRIC menerima permohonan mengenai sama ada entiti memasukkan deposit permintaan sebagai komponen tunai dan kesetaraan tunai dalam penyata aliran tunai dan kedudukan kewangan apabila deposit permintaan tertakluk kepada sekatan kontrak ke atas penggunaan yang dipersetujui dengan pihak ketiga.
IFRIC merumuskan bahawa prinsip dan keperluan dalam Piawaian IFRS menyediakan asas yang mencukupi untuk entiti menentukan sama ada untuk memasukkan deposit permintaan tertakluk kepada sekatan kontrak ke atas penggunaan yang dipersetujui dengan pihak ketiga sebagai komponen tunai dan kesetaraan tunai dalam penyata aliran tunai dan kedudukan kewangannya.
2 0 2 1 Yayasan Laporan Kewangan 76 Ringkasan Draf Pernyataan Teknikal yang diterbitkan pada 2021 (5) Antara Prinsipal dengan Agen: Penjual semula Perisian (IFRS 15 Hasil daripada Kontrak dengan Pelanggan) IFRIC menerima permohonan bertanyakan sama ada, dengan mengaplikasi IFRS 15, penjual semula lesen perisian adalah merupakan prinsipal atau agen.
IFRIC mengamati bahawa rumusan sama ada penjual semula adalah prinsipal atau agen adalah bergantung kepada fakta dan keadaan tertentu, termasuklah terma dan syarat kontrak yang berkenaan.

IFRIC merumuskan bahawa prinsip dan keperluan dalam Piawaian IFRS menyediakan asas yang mencukupi untuk penjual semula menentukan sama ada – dalam corak fakta diperinci dalam permohonan – ia adalah prinsipal atau agen bagi lesen perisian standard yang disediakan kepada pelanggan.
IC diberi tanggungjawab untuk mempertimbangkan Keputusan Agenda Tentatif IFRIC di atas.

Butiran mengenai IC telah dibentangkan di atas.


Draf Pernyataan Teknikal MASB Draf Pendedahan MASB 78 Penyediaan penyata kewangan disatukan untuk kumpulan yang telah melupuskan satu-satunya anak syarikatnya pada tahun kewangan Objektif Draf Pendedahan adalah untuk mendapatkan maklum balas mengenai rumusan tentatif oleh MAIC berhubung permohonan yang diterima mengenai keperluan menyediakan penyata kewangan disatukan bagi kumpulan yang telah melupuskan satu-satunya anak syarikatnya pada tahun kewangan.
Melalui corak fakta yang diperinci dalam permohonan, pelabur mempunyai anak syarikat selama bertahun-tahun dan telah menyediakan penyata kewangan yang disatukan.

Walau bagaimanapun, pada tahun berakhir 31 Disember 2019, pelabur melupuskan satu-satunya anak syarikatnya pada 30 Jun 2019.

Permohonan bertanyakan sama ada pelabur perlu menyediakan penyata kewangan disatukan bagi tahun berakhir 31 Disember 2019.
Berdasarkan corak fakta, penyata kewangan disatukan mesti disediakan oleh pelabur bagi tahun berakhir 31 Disember 2019 kerana pelabur merupakan induk dalam tempoh pelaporan, walaupun ia tidak lagi menjadi induk pada akhir tempoh pelaporan.

Pelabur akan memasukkan pendapatan dan perbelanjaan satu-satunya anak syarikat dalam penyata untung atau rugi disatukan dan pendapatan komprehensif lain sehingga pada tarikh pelabur tidak lagi mengawal anak syarikat tersebut.
Penyata kewangan disatukan yang disediakan oleh pelabur bagi tahun kewangan berakhir 31 Disember 2019 mesti mengandungi set lengkap penyata kewangan, yang merangkumi maklumat perbandingan untuk tempoh sebelumnya (tahun kewangan berakhir 31 Disember 2018).

Rujuk juga bahagian Jawatankuasa Aplikasi dan Pelaksanaan MFRS dalam Laporan Tahunan ini.
77 Yayasan Laporan Kewangan 2 0 2 1 Ringkasan Draf Pernyataan Teknikal yang diterbitkan pada 2021 Draf Buletin Isu 3 Pelaporan Qard dalam Lajur Dana Takaful dalam Penyata Kewangan Entiti Takaful Draf Buletin Isu 3 (Draf IB 3) telah diterbitkan untuk mendapatkan maklum balas mengenai pandangan awal Lembaga mengenai perakaunan qard apabila MFRS 17 Kontrak Insurans diaplikasi pada tarikh kuat kuasanya pada 1 Januari 2023.
Skop Draf IB 3 adalah terhad di mana ia hanya tertumpu kepada perakaunan bagi qard dalam konteks kewajipan pengendali takaful untuk menyumbang qard kepada dana takaful, bagi membetulkan defisit di bawah seksyen 95 Akta Perkhidmatan Kewangan Islam 2013 (IFSA).
Draf IB 3 memohon pandangan pihak berkepentingan mengenai perkara yang berkaitan dengan (a) terma qard seperti yang diamalkan oleh takaful di Malaysia, (b) qard sebagai aliran tunai pemenuhan di bawah kontrak takaful daripada perspektif dana takaful, (c) keadaan di mana qard mungkin timbul atas sebab selain daripada untuk membetulkan defisit yang timbul daripada kontrak takaful yang diterbitkan, dan (d) pertimbangan ke atas aplikasi MFRS 9 Instrumen Kewangan sekiranya entiti takaful memilih untuk membentangkan lajur pengendali takaful secara berasingan dalam penyata kewangan.
Draf IB 3 telah dimuktamadkan dan diterbitkan oleh Lembaga pada Jun 2021 dan tanpa perubahan dasar dalam pandangan awal.

Ia merumuskan bahawa qard yang timbul kesan daripada menampung defisit di bawah seksyen 95 IFSA, membentuk sebahagian daripada aliran tunai pemenuhan kontrak takaful di bawah MFRS 17 daripada perspektif dana takaful.

2 0 2 1 Yayasan Laporan Kewangan 78 Semakan Draf Pernyataan Teknikal MASB juga menyertai proses penetapan piawaian IASB secara aktif.
Sepanjang tahun ini, MASB telah menyemak dan memberikan komen terhadap dua puluh satu (21) draf pernyataan teknikal dan ia merangkumi satu (1) Draf Pendedahan Yayasan IFRS, dua (2) Permohonan Maklumat IASB, satu (1) Kertas Perbincangan IASB, enam (6) Draf Pendedahan IASB, dan sebelas (11) Keputusan Agenda Tentatif IFRIC.

No.
Tajuk Draf Pendedahan Yayasan IFRS 1 ED/2021/5 Cadangan Pindaan Bersasar kepada Perlembagaan Yayasan IFRS untuk Menubuhkan Lembaga Piawaian Kelestarian Antarabangsa bagi Menetapkan Piawaian Kelestarian IFRS Permohonan Maklumat IASB 2 Semakan Pasca Pelaksanaan IFRS 10 Penyata Kewangan Disatukan, IFRS 11 Pengaturan Bersama dan IFRS 12 Pendedahan Kepentingan Dalam Entiti Lain 3 Perundingan Agenda Ketiga Kertas Perbincangan IASB 4 DP/2020/2 Kombinasi Perniagaan di bawah Kawalan Sepunya Draf Pendedahan IASB 5 ED/2021/2 Konsesi Sewa Berkaitan Covid-19 melangkaui 30 Jun 2021 (Cadangan pindaan kepada IFRS 16 Pajakan) 6 7 8 9 ED/2020/4 Liabiliti Pajakan dalam Jualan dan Pajakan Balik (Cadangan pindaan kepada IFRS 16 Pajakan) ED/2021/1 Aset Kawal Selia dan Liabiliti Kawal Selia ED/2021/4 Kekurangan Kebolehtukaran (Cadangan pindaan kepada IAS 21 Kesan Perubahan Kadar Tukaran Wang Asing) ED/2021/8 Aplikasi Awal IFRS 17 dan IFRS 9—Maklumat Perbandingan (Cadangan pindaan kepada IFRS 17 Kontrak Insurans) 10 ED/2021/6 Komentar Pengurusan Keputusan Agenda Tentatif IFRIC 11 Pengelasan Hutang dengan Kovenan sebagai Semasa atau Bukan Semasa (IAS 1 Pembentangan Penyata Kewangan) Mengaitkan Manfaat kepada Tempoh Perkhidmatan (IAS 19 Manfaat Pekerja) Kos Konfigurasi atau Penyesuaian dalam Pengaturan Pengkomputeran Awam (IAS 38 Aset Tak Ketara) Kos yang Diperlukan untuk Menjual Inventori (IAS 2 Inventori) Penyediaan Penyata Kewangan apabila Entiti Bukan Lagi Usaha Berterusan (IAS 10 Peristiwa Selepas Tempoh Pelaporan) Cukai Nilai Ditambah Tanpa Bayaran Balik ke atas Bayaran Pajakan (IFRS 16 Pajakan) Perakaunan untuk Waran yang Dikelaskan sebagai Liabiliti Kewangan pada Pengiktirafan Awal (IAS 32 Instrumen Kewangan: Pembentangan) Manfaat Ekonomi daripada Penggunaan Ladang Angin (IFRS 16 Pajakan) Urus Niaga TLTRO III (IFRS 9 Instrumen Kewangan dan IAS 20 Perakaunan untuk Geran Kerajaan dan Pendedahan Bantuan Kerajaan) Tunai Diterima melalui Pindahan Elektronik sebagai Penyelesaian Aset Kewangan (IFRS 9 Instrumen Kewangan) 21 Deposit Permintaan dengan Sekatan Penggunaan (IAS 7 Penyata Aliran Tunai) 79 Yayasan Laporan Kewangan 2 0 2 1 Kewangan Islam Kewangan Islam merupakan sebahagian daripada pelan kerja MASB di bawah aktiviti penetapan piawaian dan pelaksanaan.
Jawatankuasa Tetap Pelaporan Kewangan Islam (SCIFR) MASB telah diberi tanggungjawab untuk menasihati MASB sama ada piawaian perakaunan diluluskan sedia ada atau yang dicadangkan boleh diaplikasi ke atas urus niaga kewangan Islam.

Pada bulan Jun 2021, MASB telah menerbitkan Buletin Isu 3 Pelaporan Qard dalam Lajur Dana Takaful dalam Penyata Kewangan Entiti Takaful.
Buletin Isu 3 mengetengahkan perakaunan qard dalam konteks kewajipan pengendali takaful untuk menyumbangkan qard kepada dana takaful untuk menampung defisit di bawah seksyen 95 Akta Perkhidmatan Kewangan Islam 2013.

Buletin Isu ini merumuskan bahawa daripada perspektif dana takaful, qard membentuk sebahagian daripada aliran tunai pemenuhan di bawah MFRS 17 Kontrak Insurans.
juga mempertimbangkan kesan perakaunan qard sekiranya entiti takaful memilih untuk MASB menyediakan lajur pengendali takaful secara berasingan dalam penyata kewangannya.

Perbincangan dan panduan mengenai qard daripada perspektif pengendali takaful disertakan dalam Lampiran Buletin.
Pengerusi Ahli : Dato’ Mohammad Faiz Azmi : Dato’ Abdul Rauf Rashid (Ernst & Young PLT) Encik Ahmad Nasri Abdul Wahab (KPMG PLT) Encik Zharif Agil (PricewaterhouseCoopers PLT) Encik Ahmad Shahriman Mohd Shariff (CIMB Islamic Bank Berhad dan CIMB Group) Encik Zafri Ab.

Halim (Etiqa Family Takaful Berhad) Dr. Md.
Nurdin Ngadimon (RHB Islamic Bank) Dato' Badlisyah Abdul Ghani Dr. Marjan Muhammad (Akademi Penyelidikan Shariah Antarabangsa untuk Kewangan Islam) Puan Madelena Mohamed (Bank Negara Malaysia) Encik Noraizat Shik Ahmad (Suruhanjaya Sekuriti Malaysia) Pemerhati : Puan Rasmimi Ramli (Institut Akauntan Malaysia) Puan Ratna Shae'rah Kamaludin (Persatuan Perbankan Islam dan Institusi Kewangan Malaysia) Encik Nor Shahrizan Sulaiman (Persatuan Perbankan Pelaburan Malaysia) Encik Azli Munani (Persatuan Takaful Malaysia) Agenda bagi tahun 2022 Salah satu aktiviti utama MASB adalah memberikan komen mengenai draf pernyataan teknikal IASB daripada perspektif pelaporan kewangan Islam.
Untuk ini, pelan kerja akan mencerminkan pelan kerja IASB dan pada tahun 2022, salah satu dokumen yang mungkin memerlukan ulasan berasingan daripada perspektif pelaporan kewangan Islam ialah projek IASB tentang Instrumen Kewangan dengan Ciri-ciri Ekuiti (FICE).

Selain itu, MASB juga menetapkan pelan kerjanya sendiri untuk pelaporan kewangan Islam.
Untuk tahun 2022 dan berkemungkinan sehingga tahun 2023, pelan kerja yang bertemakan pembinaan semula pengetahuan dan hubungan akan melibatkan antara lain, menyemak dan mengemas kini pernyataan teknikal yang diterbitkan Lembaga sebelum ini.

Topik penyelidikan khusus juga telah dikenal pasti untuk memastikan MASB kekal sebagai peneraju pemikiran tentang aplikasi Piawaian IFRS kepada urus niaga kewangan Islam.
Di peringkat serantau, MASB terus menerajui Kumpulan Kerja Kewangan Islam AOSSG dan seterusnya Sekretariat akan merancang pelan kerjanya dengan tujuan untuk menyokong pengaplikasian Piawaian IFRS dalam urus niaga kewangan Islam oleh negara-negara anggota.

Di peringkat antarabangsa, MASB juga akan terus menjadi penyumbang aktif dalam Kumpulan Perundingan Kewangan Islam (IFCG) IASB dalam wacananya tentang isu pelaporan kewangan Islam yang tertentu.
2 0 2 1 Yayasan Laporan Kewangan 80 Projek Pelaksanaan Tempatan Pasukan Petugas MFRS 17 Pasukan Petugas Pelaksanaan MFRS 17 (Pasukan Petugas MFRS 17) telah ditubuhkan untuk memudahkan pelaksanaan dan aplikasi MFRS 17 secara konsisten sepanjang tempoh peralihan daripada MFRS 4 Kontrak Insurans kepada MFRS 17.

Pasukan Petugas MFRS 17 membincangkan isu pelaksanaan tempatan dan memberikan cadangan kepada MASB tentang terbitan atau sebaliknya, bagi sebarang bentuk pernyataan teknikal.
Pasukan Petugas dijangka bersifat sementara dengan jangka hayat selama dua tahun, iaitu dari Januari 2021 hingga akhir 2022.

Perbincangan oleh Pasukan Petugas akan didokumenkan dalam bentuk ringkasan mesyuarat yang akan diedarkan kepada semua ahli dan pemerhati sebagai rujukan, serta akan dilaporkan kepada MASB.
Sepanjang tahun ini, Pasukan Petugas telah bermesyuarat sebanyak lima (5) kali dan membincangkan dua puluh tiga (23) isu, yang mana sembilan belas (19) merupakan tentang insurans dan empat (4) tentang takaful.
Pasukan Petugas MFRS 17 terdiri daripada: Pengerusi Pengerusi bersama Pengurus Projek – Insurans Pengurus Projek – Takaful : : : : Encik Darrel Scott Encik New Kheng Chee Encik Mok Wan Kong (KPMG PLT) Encik Harun Kannan Rajagopal (Ernst & Young PLT) Ahli (wakil daripada) Pemerhati (wakil daripada) Kerja MASB dan COVID-19 : Deloitte PLT PricewaterhouseCoopers PLT AIA Bhd AIA PUBLIC Takaful Bhd Allianz General Insurance Malaysia Berhad AmGeneral Insurance Bhd Etiqa Family Takaful Berhad Etiqa Life Insurance Berhad Great Eastern Life Assurance (M) Berhad Takaful Ikhlas General Berhad Bank Negara Malaysia : Persatuan Insurans Hayat Malaysia Persatuan Takaful Malaysia Persatuan Insurans Am Malaysia Pada tahun 2020, sebuah pasukan petugas khas yang dinamakan Pasukan Petugas MFRS 9 mengenai Langkah Bantuan COVID-19 (TFC-19), telah ditubuhkan sebagai platform bagi pihak berkepentingan untuk membincangkan aplikasi MFRS 9 berikutan langkah bantuan yang dilaksanakan oleh BNM kesan daripada pandemik.
TFC-19 membincangkan dan merumuskan isu berkaitan dengan pengaplikasian dan pelaksanaan MFRS 9 kesan daripada langkah bantuan supaya dapat menambahbaik ketekalan dalam pengaplikasian MFRS 9 oleh institusi kewangan.
Lima mesyuarat telah diadakan pada tahun ini di mana TFC-19 terus membincangkan secara aktif mengenai isu berkaitan dengan pengaplikasian MFRS 9 kepada pelbagai program bantuan yang dilancarkan oleh Kerajaan dan institusi kewangan, contohnya impak kedayamajuan pelanggan dan pembayaran balik ke atas pemeringkatan pinjaman dan pembiayaan.
Sejak penubuhannya, TFC-19 telah 81 Yayasan Laporan Kewangan 2 0 2 1 Projek Pelaksanaan Tempatan menerbitkan tiga panduan [lihat Nota 1] dan ia terus menaksir sama ada sebarang panduan tambahan atau kemas kini terhadap panduan ini diperlukan.

TFC-19 merumuskan bahawa panduan ini masih boleh digunakan dalam persekitaran semasa di mana langkah bantuan COVID-19 berterusan.
Nota 1: Panduan ini adalah: ● Penjadualan dan Penstrukturan Semula (R&R) pasca moratarium pada 1 Oktober 2020 untuk pelanggan yang berdaya maju – Kemas kini maklumat dan kesan pemeringkatan – Untuk portfolio runcit ● R&R pasca moratarium pada 1 Oktober 2020 untuk pelanggan yang berdaya maju – Kemas kini maklumat dan kesan pemeringkatan – Untuk portfolio SME ● Pendedahan khusus COVID-19 – Untuk penyata kewangan tahunan bermula pada atau selepas 31 Disember 2020 TFC-19 terdiri daripada: Pengerusi Pengurus Projek Ahli : : : Encik Darrel Scott Encik Chan Hooi Lam Puan Siti Hajar Osman (Deloitte PLT) Dato’ Megat Iskandar Shah Mohamad Nor (Ernst & Young PLT) Encik Adrian Lee (KPMG PLT) Encik Ong Ching Chuan (PricewaterhouseCoopers PLT) Encik Mohamad Jamali Haron (Bank Islam Malaysia Berhad) Encik Khairul Rifaie (CIMB Bank Malaysia Group) Encik Malkit Singh Maan (Hong Leong Bank Berhad) Puan Khalijah Ismail (Malayan Banking Berhad) Cik Yik Sook Ling (Public Bank Berhad) Encik Nik Rizal Kamil Nik Ibrahim Kamil (RHB Bank Berhad) Puan Cindy Siah Hooi Hoon (Bank Negara Malaysia) Encik Daniel Chin Shen Li (Bank Negara Malaysia) : Encik Surin Segar A/L Gnanasegaram (Persatuan Bank-Bank dalam Malaysia) Puan Mazura Mohamed Jamil (Persatuan Institusi Kewangan dan Perbankan Islam Malaysia) Pemerhati Jawatankuasa Aplikasi dan Pelaksanaan MFRS Rujuk bahagian Jawatankuasa Aplikasi dan Pelaksanaan MFRS dalam Laporan Tahunan ini.
2 0 2 1 Yayasan Laporan Kewangan 82 Agenda bagi Tahun 2022 Penetapan Piawaian dan Penyelenggaraan – MFRS dan MPERS Pelan kerja untuk 2022 akan bergerak seiring dengan pelan kerja IASB kerana Piawaian MFRS telah menumpu dengan IFRS sejak 1 Januari 2012.

Begitu juga dengan MPERS, yang mana secara substantifnya adalah setara dengan Piawaian IFRS untuk SME kecuali keperluan untuk aktiviti pembangunan harta tanah serta beberapa perubahan istilah.
Pelan kerja IASB pada tarikh berakhir 8 Mac 2022 adalah seperti berikut: Pernyataan Muktamad Projek Liabiliti Pajakan dalam Jualan dan Pajakan Balik Penyata Kewangan Utama Aktiviti Kawal Selia Kadar Draf Pendedahan / Kertas Perbincangan / Permohonan Maklumat Projek Instrumen Kewangan dengan Ciri-ciri Ekuiti Semakan Komprehensif Kedua Piawaian IFRS untuk SME Untuk mempertimbangkan Maklum Balas Draf Pendedahan Tarikh dijangka H2 2022 - - Tarikh dijangka - H2 2022 Projek Inisiatif Pendedahan – Anak Syarikat tanpa Kebertanggungjawaban Awam: Pendedahan Inisiatif Pendedahan – Semakan Bersasar Pendedahan peringkat Piawaian Komentar Pengurusan Liabiliti Bukan Semasa dengan Kovenan Pengaturan Pembiayaan Pembekal Untuk Menentukan Hala Tuju Projek Projek Penyelenggaraan Kekurangan Kebolehtukaran (Pindaan kepada IAS 21) Peruntukan – Penambahbaikan Bersasar Projek Penyelidikan Kombinasi Perniagaan di bawah Kawalan Sepunya Pengurusan Risiko Dinamik Kaedah Ekuiti Aktiviti Ekstraktif Muhibah dan Rosot Nilai Nota: H2 – Separuh tahun kedua 83 Yayasan Laporan Kewangan 2 0 2 1 Piawaian Perakaunan Diluluskan MASB dan Interpretasi untuk Entiti Selain Daripada Entiti Persendirian yang diterbitkan pada 8 Mac 2022 Piawaian Pelaporan Kewangan Malaysia (MFRS) Tarikh Kuat Kuasa MFRS 1 Penerimaan Pakai Piawaian Pelaporan Kewangan Malaysia Pertama Kali 1 Januari 2012 Penambahbaikan Tahunan kepada Piawaian MFRS 2018-2020 MFRS 2 MFRS 3 Bayaran Berasaskan Saham Kombinasi Perniagaan Definisi Perniagaan (Pindaan kepada MFRS 3) 1 Januari 2022 1 Januari 2012 1 Januari 2012 1 Januari 2020 Rujukan kepada Rangka Kerja Konseptual (Pindaan kepada MFRS 3) 1 Januari 2022 MFRS 4 Kontrak Insurans [akan digantikan oleh MFRS 17] 1 Januari 2012 MFRS 5 MFRS 6 MFRS 7 MFRS 8 MFRS 9 Lanjutan Pengecualian Sementara daripada Mengguna Pakai MFRS 9 (Pindaan kepada MFRS 4) Berkuat kuasa serta-merta Reformasi Ukur Rujuk Kadar Faedah—Fasa 2 (Pindaan kepada MFRS 9, MFRS 139, MFRS 7, MFRS 4 dan MFRS 16) 1 Januari 2021 Aset Bukan Semasa Dipegang untuk Jualan dan Penamatan
 Operasi 1 Januari 2012 Eksplorasi dan Penilaian Sumber Mineral Instrumen Kewangan: Pendedahan Reformasi Ukur Rujuk Kadar Faedah (Pindaan kepada MFRS 9, MFRS 139 dan MFRS 7) 1 Januari 2012 1 Januari 2012 1 Januari 2020 Reformasi Ukur Rujuk Kadar Faedah—Fasa 2 (Pindaan kepada MFRS 9, MFRS 139, MFRS 7, MFRS 4 dan MFRS 16) 1 Januari 2021 Segmen Operasi Instrumen Kewangan (IFRS 9 Instrumen Kewangan diterbitkan oleh IASB pada Julai 2014) Reformasi Ukur Rujuk Kadar Faedah (Pindaan kepada MFRS 9, MFRS 139 dan MFRS 7) Penambahbaikan Tahunan kepada Piawaian MFRS 2018-2020 Reformasi Ukur Rujuk Kadar Faedah—Fasa 2 (Pindaan kepada MFRS 9, MFRS 139, MFRS 7, MFRS 4 dan MFRS 16) 1 Januari 2012 1 Januari 2018 1 Januari 2020 1 Januari 2022 1 Januari 2021 1 Januari 2013 MFRS 10 Penyata Kewangan Disatukan Penjualan atau Sumbangan Aset antara Pelabur dan Syarikat Bersekutu atau Usaha Sama (Pindaan kepada MFRS 10 dan MFRS 128) Ditunda MFRS 11 Pengaturan Bersama MFRS 12 Pendedahan Kepentingan Dalam Entiti Lain MFRS 13 Pengukuran Nilai Saksama MFRS 14 Akaun Penundaan Kawal Selia MFRS 15 Hasil daripada Kontrak dengan Pelanggan MFRS 16 Pajakan Konsesi Sewa Berkaitan Covid-19 (Pindaan kepada MFRS 16) 1 Januari 2013 1 Januari 2013 1 Januari 2013 1 Januari 2016 1 Januari 2018 1 Januari 2019 1 Jun 2020 Penambahbaikan Tahunan kepada Piawaian MFRS 2018-2020 - Reformasi Ukur Rujuk Kadar Faedah—Fasa 2 (Pindaan kepada MFRS 9, MFRS 139, MFRS 7, MFRS 4 dan MFRS 16) 1 Januari 2021 Konsesi Sewa Berkaitan Covid-19 melangkaui 30 Jun 2021 (Pindaan kepada MFRS 16) 1 April 2021 MFRS 17 Kontrak Insurans Pindaan kepada MFRS 17 Aplikasi Awal MFRS 17 dan MFRS 9—Maklumat Perbandingan (Pindaan kepada MFRS 17) 1 Januari 2023 1 Januari 2023 1 Januari 2023 2 0 2 1 Yayasan Laporan Kewangan 84 Piawaian Perakaunan Diluluskan MASB dan Interpretasi untuk Entiti Selain Daripada Entiti Persendirian yang diterbitkan pada 8 Mac 2022 Piawaian Pelaporan Kewangan Malaysia (MFRS) MFRS 101 Pembentangan Penyata Kewangan Definisi
 Material (Pindaan kepada MFRS 101) Pengelasan Liabiliti sebagai Semasa atau Bukan Semasa (Pindaan kepada MFRS 101) Tarikh Kuat Kuasa 1 Januari 2012 1 Januari 2020 1 Januari 2023 Pengelasan Liabiliti sebagai Semasa atau Bukan Semasa—Penundaan Tarikh Kuat kuasa (Pindaan kepada MFRS 101) Berkuat kuasa serta-merta Pendedahan Dasar Perakaunan (Pindaan kepada MFRS 101) MFRS 102 Inventori MFRS 107 Penyata Aliran Tunai MFRS 108 Dasar Perakaunan, Perubahan dalam Anggaran Perakaunan dan Kesilapan Definisi Material (Pindaan kepada MFRS 108) Definisi Anggaran Perakaunan (Pindaan kepada MFRS 108) MFRS 110 Peristiwa Selepas Tempoh Pelaporan MFRS 112 Cukai Pendapatan Cukai Tertunda berkaitan Aset dan Liabiliti terhasil daripada Urus Niaga Tunggal (Pindaan kepada MFRS 112) MFRS 116 Harta, Loji dan Peralatan Harta, Loji dan Peralatan—Terimaan sebelum Kegunaan Sepatutnya (Pindaan kepada MFRS 116) MFRS 119 Manfaat Pekerja 1 Januari 2023 1 Januari 2012 1 Januari 2012 1 Januari 2012 1 Januari 2020 1 Januari 2023 1 Januari 2012 1 Januari 2012 1 Januari 2023 1 Januari 2012 1 Januari 2022 1 Januari 2013 MFRS 120 Perakaunan untuk Geran Kerajaan dan Pendedahan Bantuan Kerajaan 1 Januari 2012 MFRS 121 Kesan Perubahan Kadar Tukaran Wang Asing MFRS 123 Kos Pinjaman MFRS 124 Pendedahan Pihak Berkaitan MFRS 126 Perakaunan dan Pelaporan Pelan Manfaat Persaraan MFRS 127 Penyata Kewangan Berasingan MFRS 128 Pelaburan dalam Syarikat Bersekutu dan Usaha Sama 1 Januari 2012 1 Januari 2012 1 Januari 2012 1 Januari 2012 1 Januari 2013 1 Januari 2013 Penjualan atau Sumbangan Aset antara Pelabur dan Syarikat Bersekutu atau Usaha Sama (Pindaan kepada MFRS 10 dan MFRS 128) Ditunda MFRS 129 Pelaporan Kewangan dalam Ekonomi Hiperinflasi MFRS 132 Instrumen Kewangan: Pembentangan MFRS 133 Perolehan Sesaham MFRS 134 Pelaporan Kewangan Interim MFRS 136 Rosot nilai Aset MFRS 137 Peruntukan, Liabiliti Bersyarat dan Aset Bersyarat Kontrak Membebankan—Kos untuk Memenuhi Kontrak (Pindaan kepada MFRS 137) MFRS 138 Aset
 Tak Ketara MFRS 139 Instrumen Kewangan: Pengiktirafan dan Pengukuran Reformasi Ukur Rujuk Kadar Faedah (Pindaan kepada MFRS 9, MFRS 139 dan MFRS 7) 1 Januari 2012 1 Januari 2012 1 Januari 2012 1 Januari 2012 1 Januari 2012 1 Januari 2012 1 Januari 2022 1 Januari 2012 1 Januari 2012 1 Januari 2020 Reformasi Ukur Rujuk Kadar Faedah—Fasa 2 (Pindaan kepada MFRS 9, MFRS 139, MFRS 7, MFRS 4 dan MFRS 16) 1 Januari 2021 85 Yayasan Laporan Kewangan 2 0 2 1 Piawaian Perakaunan Diluluskan MASB dan Interpretasi untuk Entiti Selain Daripada Entiti Persendirian yang diterbitkan pada 8 Mac 2022 Piawaian Pelaporan Kewangan Malaysia (MFRS) MFRS 140 Harta Pelaburan MFRS 141 Pertanian Penambahbaikan Tahunan kepada Piawaian MFRS 2018-2020 Tarikh Kuat Kuasa 1 Januari 2012 1 Januari 2012 1 Januari 2022 Nota: Penomboran MFRS adalah setara dengan IFRS.
MFRS dengan ‘awalan 1xx’ adalah setara dengan IAS yang berkaitan.
Interpretasi IC Interpretasi IC 1 Perubahan dalam Penamatan Sedia Ada, Pemasangan Semula dan Liabiliti Serupa Tarikh Kuat Kuasa 1 Januari 2012 Interpretasi IC 2 Saham Ahli dalam Entiti Koperasi dan Instrumen Serupa 1 Januari 2012 Interpretasi IC 5 Interpretasi IC 6 Interpretasi IC 7 Hak ke atas Kepentingan berpunca daripada Penamatan, Pemasangan Semula dan Dana Pemulihan Persekitaran Liabiliti berpunca daripada Penyertaan dalam Pasaran Tertentu—Peralatan Sisa Elektrikal dan Elektronik 1 Januari 2012 1 Januari 2012 Mengaplikasi Kaedah Penyataan Semula di bawah MFRS 129 Pelaporan Kewangan dalam Ekonomi Hiperinflasi 1 Januari 2012 Interpretasi IC 10 Pelaporan Kewangan Interim dan Rosot nilai Interpretasi IC 12 Pengaturan Konsesi Perkhidmatan Interpretasi IC 14 MFRS 119—Had dalam Aset Manfaat Tetap, Keperluan Pendanaan Minimum dan Interaksinya 1 Januari 2012 1 Januari 2012 1 Januari 2012 Interpretasi IC 16 Lindung Nilai daripada Pelaburan Bersih dalam Operasi Asing 1 Januari 2012 Interpretasi IC 17 Pengagihan Aset Bukan Tunai kepada Pemilik Interpretasi IC 19 Melunaskan Liabiliti Kewangan dengan Instrumen Ekuiti 1 Januari 2012 1 Januari 2012 Interpretasi IC 20 Kos Pelucutan dalam Fasa Penghasilan Lombong Permukaan 1 Januari 2013 Interpretasi IC 21 Levi 1 Januari 2014 Interpretasi IC 22 Urus Niaga Mata Wang Asing dan Ganjaran Pendahuluan 1 Januari 2018 Interpretasi IC 23 Ketidakpastian terhadap Pengolahan Cukai Pendapatan Interpretasi IC 107 Pengenalan kepada Euro Interpretasi IC 110 Bantuan Kerajaan—Tiada Kaitan Khusus Terhadap Aktiviti Operasi Interpretasi IC 125 Cukai Pendapatan—Perubahan Status Cukai Entiti atau Pemegang Sahamnya Interpretasi IC 129 Pendedahan: Pengaturan Konsesi Perkhidmatan Interpretasi IC 132 Aset Tak Ketara—Kos Laman Web 1 Januari 2019 1 Januari 2012 1 Januari 2012 1 Januari 2012 1 Januari 2012 1 Januari 2012 Nota: Penomboran Interpretasi IC adalah setara dengan interpretasi yang diterbitkan oleh Jawatankuasa Interpretasi IFRS.
Interpretasi IC dengan ‘awalan 1xx’ adalah setara dengan Interpretasi yang diterbitkan oleh Jawatankuasa Interpretasi Tetap (SIC).

2 0 2 1 Yayasan Laporan Kewangan 86 Piawaian Perakaunan Diluluskan MASB untuk Entiti Persendirian yang diterbitkan pada 8 Mac 2022 Entiti persendirian perlu patuh dengan, sama ada: ● Piawaian Pelaporan Entiti Persendirian Malaysia (MPERS) secara keseluruhannya; atau ● Piawaian Pelaporan Kewangan Malaysia (MFRS) secara keseluruhannya.
Entiti persendirian adalah sebuah syarikat persendirian seperti yang didefinisikan di bawah seksyen 2 Akta Syarikat 2016, yang: ● ● tidak perlu menyedia atau mengemukakan penyata kewangannya di bawah undang-undang yang ditadbir oleh Suruhanjaya Sekuriti Malaysia atau Bank Negara Malaysia; dan bukan anak syarikat atau syarikat bersekutu bagi, atau kawalan bersama oleh, sebuah entiti yang dikehendaki untuk menyedia atau mengemukakan penyata kewangannya di bawah sebarang undang-undang yang ditadbir oleh Suruhanjaya Sekuriti Malaysia atau Bank Negara Malaysia.
Walau bagaimanapun, sebuah entiti persendirian yang merupakan anak syarikat atau syarikat bersekutu kepada, atau dikawal bersama oleh, entiti lain yang merupakan syarikat pengurusan seperti yang didefinisikan dalam seksyen 2 Akta Skim Kepentingan 2016 adalah bukan merupakan entiti persendirian.
Maksud ‘anak syarikat’, ‘syarikat bersekutu’ dan ‘kawalan bersama’ adalah seperti yang didefinisikan dan diterangkan, masing-masing menurut MFRS 10 Penyata Kewangan Disatukan, MFRS 128 Pelaburan dalam Syarikat Bersekutu dan Usaha Sama dan MFRS 11 Pengaturan Bersama.

Sesebuah entiti hanya akan dianggap sebagai entiti persendirian sepanjang tempoh tahunan atau tempoh interim di mana ia adalah sebuah entiti persendirian.
87 Yayasan Laporan Kewangan 2 0 2 1 Pernyataan Teknikal Lain Pernyataan Teknikal Lain yang diterbitkan sehingga kini ialah: ● Prakata kepada Piawaian Perakaunan Diluluskan MASB ● Prakata kepada Pernyataan Teknikal dan Panduan ● Rangka Kerja Konseptual untuk Pelaporan Kewangan (2011) ● Rangka Kerja Konseptual untuk Pelaporan Kewangan (2018) ● Penyata Amalan 1 MFRS Komentar Pengurusan ● Penyata Amalan 2 MFRS Membuat Penghakiman Kematanan ● Material Pendidikan Jawatankuasa Aplikasi dan Pelaksanaan MFRS (MAIC) - Panduan Aplikasi dan Pelaksanaan MFRS (MAIG) 1 Pengolahan perakaunan bagi pembatalan saham perbendaharaan di bawah Akta Syarikat 2016 - MAIG 2 Pengelasan oleh peminjam bagi pinjaman berjangka yang mengandungi klausa pembayaran balik atas permintaan - MAIG 3 Penyediaan penyata kewangan disatukan bagi kumpulan yang telah melupuskan satu-satunya anak syarikat pada tahun kewangan - Soal Jawab MAIC tentang Perakaunan untuk kos infrastruktur awam dan perumahan mampu milik yang berkaitan dengan pembangunan harta tanah ● Material tambahan lain - Kos Inventori Pembangunan Harta Tanah ● Panduan berkaitan COVID-19 - - - COVID-19: MFRS 9 Instrumen Kewangan—Pertimbangan Kerugian Kredit Dijangka Soal Jawab mengenai keperluan dalam MFRS yang perlu diambil kira oleh entiti pelaporan Malaysia berkenaan impak COVID-19 Pengiktirafan Hasil Secara Progresif daripada Jualan Harta Tanah Kediaman menurut MFRS 15 Hasil daripada Kontrak dengan Pelanggan berikutan enakmen Rang Undang-Undang COVID-19 2020 Kewangan Islam Pernyataan Teknikal Islam ● Pernyataan Prinsip i-1 Pelaporan Kewangan daripada Perspektif Islam ● Keluaran Teknikal i-1 Perakaunan untuk Zakat Perniagaan ● Buletin Isu 1 MFRS 17 Kontrak Insurans: Definisi dan Skop Takaful ● Buletin Isu 2 Pembentangan Berlajur Dana Takaful dalam Penyata Kewangan Entiti Takaful ● Buletin Isu 3 Pelaporan Qard dalam Lajur Dana Takaful dalam Penyata Kewangan Entiti Takaful 2 0 2 1 Yayasan Laporan Kewangan 88 Material Lain ● Penyata Maklum Balas: Kertas Perbincangan MASB tentang Takaful, Sukuk dan Kontrak Perkongsian Keuntungan Patuh Shariah ● Kertas Kajian: Wakaf ● Laporan tentang Semakan Dokumen Polisi Shariah ● Seperkara Mengenai Kewangan Islam – Bahagian I dan II 89 Yayasan Laporan Kewangan 2 0 2 1 JAWATANKUASA APLIKASI DAN PELAKSANAAN MFRS (MAIC) 2 0 2 1 Yayasan Laporan Kewangan 90 Jawatankuasa Aplikasi dan Pelaksanaan MFRS (MAIC) lagi peningkatan kes COVID-19 Tahun 2021 merupakan satu tahun yang mencabar bagi banyak syarikat di seluruh dunia berikutan dan peraturan berkaitan pandemik yang berpanjangan.
Meskipun tahun ini penuh mencabar, syarikat ini telah mengaplikasi dan melaksanakan keperluan Piawaian Pelaporan Kewangan Malaysia (Piawaian MFRS) yang sedia ada, baharu ataupun yang dipinda.

Apa yang dipelajari daripada tahun yang serba mencabar ini akan lebih memperkasakan syarikat ini dalam menghadapi tahun 2022 dan seterusnya.
Pada tahun 2021, Jawatankuasa Aplikasi dan Pelaksanaan MFRS (MAIC) terus menjalankan tanggungjawabnya mempertimbangkan isu aplikasi dan pelaksanaan yang dibangkitkan oleh pengguna Piawaian MFRS dengan menghasilkan Panduan Aplikasi dan Pelaksanaan MFRS (MAIG), Soal Jawab atau sebarang bentuk material pendidikan lain yang sesuai untuk tujuan kegunaannya.
MAIC akan mengajukan cadangan kepada Lembaga tentang keperluan untuk membawa sebarang isu yang dikenal pasti kepada Lembaga Piawaian Perakaunan Antarabangsa (IASB) atau Jawatankuasa Interpretasi IFRS berkenaan isu pelaksanaan Piawaian MFRS sedia ada yang tidak dapat ditangani oleh MAIC, seperti ketidakjelasan kata-kata atau pandangan yang berbeza.
MAIC juga memfokuskan kepada beberapa isu tempatan yang meluas, contohnya yang disebabkan oleh perbezaan kontraktual dan undang-undang daripada bidang kuasa ‘penerima pakai-IFRS’ yang lain, dan bukan untuk mencipta persekitaran berorientasikan peraturan yang ekstensif, yang tidak konsisten dengan semangat Piawaian MFRS yang berasaskan prinsip.
91 Yayasan Laporan Kewangan 2 0 2 1 Jawatankuasa Aplikasi dan Pelaksanaan MFRS (MAIC) MAIC telah mempertimbangkan sejumlah lima (5) isu yang mana tiga (3) isu baharu telah diterima dan dua (2) isu dibawa dari tahun 2020 bagi pelaporan kewangan semasa.

Pada tarikh laporan ini, tiga (3) daripada lima (5) isu yang dipertimbangkan telah selesai, satu (1) isu di mana panduan telah diterbitkan, dan dua (2) isu telah ditutup tanpa sebarang panduan diterbitkan.

Baki dua (2) isu masih dipertimbangkan oleh MAIC.
Ringkasan isu yang dipertimbangkan disenaraikan di bawah: Perihal Isu Status Pengolahan perakaunan bagi wang yang diterima daripada pelabur dan dibayar kepada pemegang amanah bagi pembelian unit atau diterima daripada pemegang amanah dan dibayar kepada pelabur bagi penebusan unit dalam dana unit amanah (“akaun kutipan”) Penyediaan penyata kewangan disatukan bagi kumpulan yang telah melupuskan satu-satunya anak syarikat pada tahun kewangan Isu dipertimbangkan dan ditutup (Rujuk Nota 1) MASB 78 Penyediaan penyata kewangan disatukan bagi kumpulan yang telah melupuskan satu-satunya anak syarikatnya pada tahun kewangan telah didedahkan untuk komen awam pada bulan Februari 2021.
Isu selesai dengan penerbitan MAIG 3 Penyediaan penyata kewangan disatukan bagi kumpulan yang telah melupuskan satu-satunya anak syarikat pada tahun kewangan pada bulan Mei 2021.
Pengelasan deposit sekuriti pelanggan sebagai liabiliti semasa atau liabiliti bukan semasa Isu dipertimbangkan dan ditutup (Rujuk Nota 2) Kadar pertukaran yang sesuai digunakan untuk pengiraan dividen yang diisytiharkan pada tahun di mana mata wang pembentangan syarikat ialah Ringgit Malaysia, tetapi mata wang fungsi adalah selain daripada Ringgit Malaysia Masih dalam pertimbangan Pengiraan kadar peratusan siap dengan menggunakan kaedah input di peringkat syarikat induk dan peringkat kumpulan Masih dalam pertimbangan 1.
2.

3.

4.

5.

Nota: 1.

2.

Isu ini telah dipertimbangkan dan dibincangkan.

Lembaga telah bersetuju untuk tidak menerbitkan panduan, memandangkan kes ini tidak meluas dan yang lebih pentingnya, pengolahan perakaunan akan ditentukan oleh corak fakta yang dipersoalkan.

Isu telah dipertimbangkan dan dibincangkan.


Lembaga memutuskan untuk menutup isu ini tanpa sebarang panduan lanjut kerana prinsip dan keperluan dalam Piawaian MFRS yang berkaitan menyediakan asas yang mencukupi untuk menentukan pengolahan perakaunan yang sesuai.
2 0 2 1 Yayasan Laporan Kewangan 92 Jawatankuasa Aplikasi dan Pelaksanaan MFRS (MAIC) Seperti yang dilaporkan dalam Laporan Tahunan 2020, MASB akan mengutarakan isu berkaitan pemerolehan kepentingan tambahan dalam usaha sama tanpa perubahan dalam kawalan kepada IASB semasa semakan pasca pelaksanaannya terhadap IFRS 10 Penyata Kewangan Disatukan, IFRS 11 Pengaturan Bersama dan IFRS 12 Pendedahan Kepentingan dalam Entiti Lain dan bukannya mengeluarkan panduan.
Isu ini akan dibincangkan oleh IASB di bawah projek penyelidikan Kaedah Ekuiti.

Penglibatan dengan pelbagai pihak berkepentingan pelaporan kewangan juga merupakan tugas penting MAIC.
Pada tahun ini, MASB telah mendekati pelbagai pihak berkepentingan melalui tiga sesi libat urus yang diringkaskan seperti berikut: ● Dua (2) sesi secara maya telah diadakan pada 17 dan 18 Mac 2021, dihadiri oleh 14 orang kakitangan kanan daripada lapan syarikat korporat, untuk mengenal pasti isu pelaksanaan MFRS 10 Penyata Kewangan Disatukan, MFRS 11 Pengaturan Bersama dan MFRS 12 Pendedahan Kepentingan dalam Entiti Lain.
● Satu (1) sesi dialog telah diadakan pada 20 April 2021, dihadiri oleh 170 orang pengarah daripada institusi kewangan dan Bank Negara Malaysia (BNM), tentang MFRS 17 Kontrak Insurans, sebagai sesi ulang kaji dan untuk membincangkan isu, sekiranya ada, mengenai persediaan pelaksanaan MFRS 17.

Penglibatan dengan ahli akademik akan membantu memacu pembangunan berterusan golongan akauntan profesional yang berpengetahuan dalam Piawaian IFRS dan Piawaian MFRS.
Pada tahun 2021, MASB telah mendekati pensyarah dan pelajar daripada pelbagai institusi pendidikan awam di Malaysia dalam dua sesi jangkauan dalam talian.

Objektif sesi ini adalah untuk berkongsi dengan mereka tentang pelbagai inisiatif yang dijalankan oleh MASB dalam menyokong pelaporan kewangan di Malaysia, khususnya tanggungjawab MAIC dalam memastikan aplikasi dan pelaksanaan MFRS yang konsisten serta menyediakan kemas kini tentang piawaian baharu yang sedang dipertimbangkan oleh IASB.
Seramai 305 orang peserta daripada pelbagai institusi pendidikan awam dan swasta di Malaysia mengambil bahagian dalam sesi jangkauan ini dan sambutan yang diterima amat menggalakkan.

Seperti yang dilaporkan pada tahun sebelumnya, MASB telah menerbitkan dua Buletin Isu iaitu, Buletin Isu 1 MFRS 17 Kontrak Insurans: Definisi dan Skop untuk Takaful dan Buletin Isu 2 Pembentangan Berlajur Dana Takaful dalam Penyata Kewangan Entiti Takaful.
Pada bulan Jun 2021, Buletin Isu 3 Pelaporan Qard dalam Lajur Dana Takaful dalam Penyata Kewangan Entiti Takaful telah diterbitkan dan ia melengkapkan Buletin Isu sebelum ini yang telah diterbitkan oleh Lembaga tentang aplikasi MFRS 17 ke atas takaful.

MASB telah mengadakan beberapa sesi libat urus dengan pihak berkepentingan industri takaful, termasuk bekerjasama dengan BNM dalam menghasilkan Buletin Isu ini.
Buletin Isu ini telah dibentangkan di Mesyuarat Tahunan Kumpulan Penetap Piawaian Asia-Oseania (AOSSG) ke-13 yang telah diadakan pada 24 November 2021 sebagai satu langkah untuk menggalakkan teraju pemikiran dalam mengaplikasi Piawaian IFRS ke atas urus niaga kewangan Islam, khususnya, IFRS 17 Kontrak Insurans, yang sejajar dengan inisiatif Kerajaan untuk menjadikan Malaysia sebagai hab global bagi kewangan Islam.
Satu pasukan petugas khas, Pasukan Petugas MFRS 9 mengenai Langkah Bantuan COVID-19 (TFC-19), yang terdiri daripada MASB, BNM, juruaudit dan penyedia penyata kewangan institusi kewangan, telah ditubuhkan pada bulan Julai 2020 membincangkan aplikasi MFRS 9 Instrumen Kewangan berikutan langkah bantuan yang dilaksanakan oleh BNM kesan daripada pandemik.
Pada tahun 2021, TFC-19 telah mengadakan lima mesyuarat dan menerbitkan Nota Panduan mengenai Pendedahan khusus COVID-19 – untuk penyata kewangan tahunan bermula pada atau selepas 31 Disember 2020, untuk menambahbaik ketekalan dalam pendedahan oleh institusi kewangan dalam tiga aspek utama, iaitu pendedahan kepada sektor terjejas oleh COVID-19; langkah bantuan dan sokongan kepada pelanggan; serta 'overlay' dan pelarasan untuk kerugian kredit dijangka dalam persekitaran COVID-19.
Untuk tahun 2021, kerja penyediaan untuk pelaksanaan MFRS 17 adalah mustahak dan justeru itu, Pasukan Petugas Pelaksanaan MFRS 17 (Pasukan Petugas MFRS 17) telah ditubuhkan dengan tujuan untuk memudahkan pelaksanaan dan aplikasi MFRS 17 yang konsisten semasa tempoh peralihan daripada MFRS 4 Kontrak Insurans kepada MFRS 17.
Pasukan Petugas MFRS 17 membincangkan isu pelaksanaan tempatan dan memberikan cadangan kepada Lembaga mengenai 93 Yayasan Laporan Kewangan 2 0 2 1 Jawatankuasa Aplikasi dan Pelaksanaan MFRS (MAIC) terbitan atau sebaliknya, bagi sebarang bentuk pernyataan teknikal.

Pasukan Petugas dijangka bersifat sementara dengan jangka hayat selama dua tahun, iaitu dari bulan Januari 2021 hingga akhir tahun 2022.
Pada tahun ini, Pasukan Petugas MFRS 17 telah mengadakan lima (5) mesyuarat dan membincangkan 23 isu, yang mana 19 merupakan tentang insurans dan empat (4) adalah tentang takaful.

Perbincangan Pasukan Petugas MFRS 17 akan didokumenkan dalam bentuk ringkasan mesyuarat yang akan diedarkan kepada ahli dan pemerhati sebagai rujukan berguna untuk menambahbaik ketekalan dalam pengaplikasian oleh industri insurans (dan takaful).
MAIC terdiri daripada seramai tiga belas (13) ahli mengundi lantikan Lembaga yang dipilih di kalangan pakar industri/topik khusus.

Komposisi tiga belas (13) ahli mengundi terdiri daripada enam (6) pengamal awam, lima (5) penyedia penyata kewangan, seorang (1) pengguna, dan seorang (1) wakil daripada Institut Akauntan Malaysia.

Enam (6) pemerhati rasmi yang tidak mengundi adalah wakil daripada Suruhanjaya Sekuriti Malaysia, Lembaga Pemantauan Audit, dan badan profesional.
Pengerusi Pengurus Projek Ahli : : : Encik Ken Pushpanathan Encik Foo Yoke Pin Encik Lee Kong Weng (Baker Tilly Malaysia) Encik James Chan Kuan Chee (Crowe Malaysia PLT) (dilantik pada 1 Mac 2022) Encik Tan Khoon Yeow (BDO PLT) (bersara pada 28 Februari 2022) Encik Edwin Tan Aik Win (Deloitte PLT) Encik Ong Chee Wai (Ernst & Young PLT) Encik Foong Mun Kong (KPMG PLT) Cik Siew Kar Wai (PricewaterhouseCoopers PLT) Dato' Soo Chan Fai (Eco World Development Group Berhad) Cik Wong Yee Fun (Genting Berhad) Puan Izura Nor Azhar (PETRONAS) Encik Purushothaman A/L Kumaran Cik Sarah Lim Fern Chieh (Kenanga Investment Bank Berhad) Puan Rasmimi Ramli (Institut Akauntan Malaysia) Pemerhati : Lembaga Pemantauan Audit (wakil daripada) Suruhanjaya Sekuriti Malaysia CPA Australia Institut Akauntan Berkanun England dan Wales Institut Akauntan Awam Bertauliah Malaysia Persatuan Akauntan Bertauliah Berkanun 2 0 2 1 Yayasan Laporan Kewangan 94 Muka surat ini sengaja dibiarkan kosong PERISTIWA SEPANJANG 2021 Penglibatan dengan pihak berkepentingan 2 0 2 1 Yayasan Laporan Kewangan 96 Untuk bekerjasama dengan penetap piawaian nasional lain bagi pembangunan piawaian pelaporan kewangan yang diterima global untuk kegunaan antarabangsa Untuk menggalakkan penggunaan dan mendapatkan pandangan tentang aplikasi piawaian perakaunan dan pelaporan kewangan dengan penglibatan dan penyebaran maklumat kepada pengguna, penyedia, juruaudit dan pihak awam.
Peristiwa Sepanjang 2021 Peristiwa Butiran Mesyuarat Antarabangsa Mesyuarat Kumpulan Pelaksanaan SME (SMEIG) IASB kumpulan yang ditubuhkan oleh Lembaga SMEIG adalah (IASB) dan mempunyai Piawaian Perakaunan Antarabangsa dua iaitu untuk mempertimbangkan tanggungjawab utama, soalan pelaksanaan dan aplikasi Piawaian IFRS untuk SME; dan mengesyorkan cadangan kepada IASB tentang perlunya meminda Piawaian IFRS untuk SME.
MASB diwakili oleh Pengarah Eksekutif, Puan Tan Bee Leng yang telah dilantik semula sebagai ahli SMEIG berkuat kuasa pada 1 Julai 2019 selama tiga tahun, untuk penggal kedua berturut-turut.

Mesyuarat SMEIG IASB telah diadakan pada tarikh berikut dan topik yang dibincangkan adalah: 4-5 Februari 2021 – melalui Persidangan Video ● Bahagian A—Soalan strategik dan umum: - - Pendekatan dan prinsip penjajaran; dan Bila hendak mempertimbangkan penjajaran.
9 September 2021 – melalui Persidangan Video ● Kemas kini mengenai kerja yang dimuktamadkan: - Jangkauan luar dengan penyedia ● Kemas kini mengenai topik: - - Rangka Kerja Konseptual; dan Instrumen Kewangan.
● Penjajaran dengan IFRS 16 Pajakan; ● Penjajaran dengan IAS 19 Manfaat Pekerja; ● Pemudahan bagi pengukuran kewajipan manfaat ditentukan; ● Kemas kini beberapa bahagian Piawaian IFRS untuk SME untuk pindaan kepada Piawaian IFRS dan Interpretasi IFRIC; ● Penjajaran dengan IFRS 14 Akaun Penundaan Kawal Selia; dan ● Anak syarikat tanpa Kebertanggungjawaban Awam.
Dalam mesyuarat ini, Puan Tan telah mengambil kesempatan untuk menyuarakan pandangan MASB mengenai beberapa isu berkenaan perakaunan untuk SME, termasuk Rangka Kerja Konseptual, Pajakan dan Tanaman Penghasil.

99 Yayasan Laporan Kewangan 2 0 2 1 Peristiwa Sepanjang 2021 Peristiwa Butiran Mesyuarat Antarabangsa Mesyuarat Majlis Penasihat IFRS Majlis Penasihat adalah badan penasihat strategik rasmi kepada Pemegang Amanah Yayasan IFRS (IFRSF), IASB dan Lembaga Piawaian Kelestarian Antarabangsa (ISSB).
Fokusnya adalah untuk memberikan sokongan dan nasihat strategik kepada IFRSF.

Sebanyak 51 organisasi dari seluruh dunia diwakili di Majlis Penasihat, dengan 50 anggota individu.

Ahli Majlis Penasihat dilantik oleh Pemegang Amanah.

Ahli termasuk pelabur, penganalisis kewangan dan pengguna penyata kewangan lain, serta penyedia, ahli akademik, juruaudit, pengawal selia, badan perakaunan profesional, dan penetap piawaian.
MASB diwakili oleh Puan Tan Bee Leng yang telah dilantik sebagai wakil individu MASB ke Majlis Penasihat IFRS, berkuat kuasa 1 Januari 2020 untuk tempoh tiga tahun.

tahun Sepanjang ini, mesyuarat membincangkan kemas kini mengenai aktiviti Pemegang Amanah dan IASB.

Topik lain yang dibincangkan termasuk mengenai perancangan pasca COVID-19, pelaporan berkaitan kelestarian, Perundingan Agenda Ketiga IASB, dan maklum balas daripada mesyuarat yang terdahulu.
Puan Tan Bee Leng telah menyertai kesemua lima mesyuarat yang diadakan secara maya pada tarikh berikut: ● 23 Februari 2021 ● 13 April 2021 ● 11 Mei 2021 ● 13 September 2021 ● 10 November 2021 Institut Kewangan dan Perakaunan Awam Berkanun (CIPFA) – Mesyuarat Kumpulan Penasihat Teknikal (TAG) Pelaporan Kewangan Antarabangsa Untuk Organisasi Bukan-Untung (IFR4NPO) TAG IFR4NPO yang dipengerusikan oleh CIPFA terdiri daripada ahli yang dicalonkan oleh penetap piawaian nasional (NSS) dan ahli ini berkhidmat secara sukarela dalam kapasiti individu.
Ahli semasa TAG IFR4NPO adalah dari Afrika (Persekutuan Akauntan Pan Afrika, PAFA), Amerika Syarikat, Australia, Austria, Colombia, Kanada, Malaysia, New Zealand, Rwanda, Sierra Leone, dan United Kingdom.
Peranan TAG IFR4NPO dalam pembangunan panduan laporan kewangan bukan mandatori yang diaplikasikan di peringkat antarabangsa untuk Organisasi Bukan-Untung (NPO) adalah untuk menyediakan forum di mana Sekretariat TAG IFR4NPO dapat merujuk kepada individu berpengalaman daripada NSS, tentang pendekatan keseluruhan, dan isu teknikal utama yang ditangani dalam pembangunan panduan pelaporan kewangan antarabangsa yang berkualiti tinggi untuk NPO.
2 0 2 1 Yayasan Laporan Kewangan 100 Peristiwa Sepanjang 2021 Peristiwa Butiran Mesyuarat Antarabangsa Dalam membangunkan panduan pelaporan kewangan bagi NPO, TAG telah mengadakan empat mesyuarat untuk membincangkan pembangunan draf Kertas Perundingan.

IFR4NPO Mesyuarat ini diadakan secara maya pada: ● 3 Mac 2021 ● 8 September 2021 ● 5 Oktober 2021 ● 1 Disember 2021 Puan Tan Bee Leng berkhidmat sebagai ahli TAG IFR4NPO dalam kapasiti individunya dan telah menghadiri mesyuarat tersebut.
Mesyuarat Forum Penetap Piawaian Perakaunan Antarabangsa (IFASS) IFASS merupakan rangkaian NSS tidak formal dari serata dunia dan organisasi lain yang mempunyai penglibatan rapat dalam isu pelaporan kewangan.

IFASS kini dipengerusikan oleh Encik Yasunobu Kawanishi, ahli Lembaga Piawaian Perakaunan Jepun (ASBJ).

IFASS menyediakan platform bagi NSS dan pihak berkepentingan yang berminat untuk membincangkan hal berkaitan kepentingan bersama, termasuk perkembangan Piawaian IFRS.
IFASS secara maya Mesyuarat dan disertai oleh NSS daripada 33 buah negara serta wakil daripada Kumpulan Penasihat Pelaporan Kewangan Eropah (EFRAG), IASB dan kakitangannya, Lembaga Piawaian Perakaunan Sektor Awam (IPSASB), dan PAFA.
diadakan telah 8-9 Mac 2021 – melalui Mesyuarat Secara Maya Berikut adalah topik yang dibincangkan sepanjang mesyuarat secara maya selama dua hari: ● Inisiatif EFRAG mengenai Pelaporan Bukan Kewangan; ● Inisiatif Pendedahan – Anak Syarikat yang merupakan SME; ● Usaha Berterusan; ● Penyata Kewangan Berasingan; ● Masa Depan Pelaporan Korporat; ● Semakan Pasca Pelaksanaan IFRS 10, IFRS 11 dan IFRS 12; ● Kemas kini Projek IFR4NPO; ● Perundingan Agenda; dan ● Kombinasi Perniagaan di bawah Kawalan Sepunya.
101 Yayasan Laporan Kewangan 2 0 2 1 Peristiwa Sepanjang 2021 Peristiwa Butiran Mesyuarat Antarabangsa telah diwakili oleh mantan Encik MASB Mohamed Raslan Abdul Rahman; Puan Tan Bee Leng; Penolong Pengarah Bersekutu, Puan Nadiah Ismail; dan Pengurus Teknikal, Puan Cathrine Su dan Encik Mohd Nazi Mat Yusoff.
Pengerusi, 29-30 September 2021 – melalui Mesyuarat Secara Maya Berikut adalah agenda mesyuarat yang telah diadakan selama dua hari: ● Mesej daripada Pengerusi IASB dan maklum balas terhadap soalan ahli IFASS; ● Pendedahan berkaitan iklim; ● Aset kawal selia dan liabiliti kawal selia – Pandangan tentang draf pendedahan IASB; ● Kemas kini IPSASB ● Kemas kini Projek IFR4NPO; ● Kaedah perakaunan ekuiti; ● Anggaran dan anggaran perakaunan; ● Isu berkaitan penyata kewangan berasingan; dan ● Aset Tak Ketara.
MASB telah diwakili oleh Puan Tan Bee Leng, Puan Nadiah Ismail dan Puan Cathrine Su.

Dalam mesyuarat ini, Puan Tan telah mengetuai perbincangan sub-kumpulan tentang Aset Tak Ketara.
2 0 2 1 Yayasan Laporan Kewangan 102 Peristiwa Sepanjang 2021 Peristiwa Butiran Mesyuarat Antarabangsa Mesyuarat Kumpulan Ekonomi Sedang Meningkat Naik (EEG) IASB ke-21 17-18 Mei 2021 – melalui Mesyuarat Secara Maya EEG IASB telah ditubuhkan di bawah seliaan Pemegang Amanah IFRSF, dengan tujuan untuk merangsang penyertaan ekonomi sedang meningkat naik dalam pembangunan Piawaian IFRS.

Keanggotaan semasa EEG terdiri daripada negara anggota ekonomi sedang meningkat naik G20 dan Malaysia.
EEG memfokuskan isu berkaitan aplikasi dan pelaksanaan Piawaian IFRS dalam ekonomi sedang meningkat naik.

Di samping itu, EEG juga akan mempertimbangkan jika, dan bagaimana, IASB boleh menyediakan panduan pendidikan di peringkat yang tepat untuk pihak yang berminat dalam ekonomi sedang meningkat naik dan apakah sistem penyampaian yang terbaik untuk tujuan ini.

EEG telah mengadakan mesyuarat setengah tahunan ke-21 pada 17-18 Mei 2021.
Delegasi termasuk Ahli Lembaga IASB, Encik Tadeu Cendon (Pengerusi EEG), Dr. Jianqiao Lu dan Encik Bruce Mackenzie; Staf Teknikal IASB, Encik Fred Nieto dan Cik Roberto Ravelli; serta delegasi dari Afrika Selatan, Arab Saudi, Argentina, Brazil, China, India, Indonesia, Korea Selatan, Malaysia, Mexico, Rusia, dan Turki.
Mesyuarat ini telah membincangkan perkara berikut: ● Aktiviti Kawal Selia Kadar; ● Projek Strategi dan Tadbir Urus: kemas kini mengenai pelaporan kelestarian; ● Projek Strategi dan Tadbir Urus: Perundingan Agenda Ketiga; ● Kombinasi Perniagaan di bawah Kawalan Sepunya; ● Keputusan agenda: Jawatankuasa Intrepretasi IFRS; ● Semakan Piawaian IFRS untuk SME; ● Mengaplikasi IAS 12 Cukai Pendapatan; dan ● Kemas kini mengenai aktiviti IASB.
MASB telah diwakili oleh Puan Tan Bee Leng dan Pengarah Projek, Puan Patricia McBride.

Dalam mesyuarat ini, Puan Tan telah menyuarakan tentang keperluan untuk meningkatkan tahap fokus terhadap penyelenggaraan dan aplikasi konsisten, dan seterusnya mengurangkan tahap fokus terhadap Piawaian IFRS baharu dan pindaan utama kepada Piawaian IFRS kerana pihak berkepentingan memerlukan tempoh bertenang.
Beliau juga berkongsi tentang keutamaan MASB terhadap isu pelaporan kewangan yang boleh dimasukkan oleh IASB ke dalam pelan kerja bagi tahun 2022-2026.

Puan McBride telah membentangkan pandangan MASB tentang projek aktiviti kawal selia kadar.

103 Yayasan Laporan Kewangan 2 0 2 1 Peristiwa Sepanjang 2021 Peristiwa Butiran Mesyuarat Antarabangsa Mesyuarat EEG IASB ke-22 2-3 Disember 2021 – melalui Mesyuarat Secara Maya telah diadakan secara maya pada Mesyuarat EEG ke-22 2-3 Disember 2021.
Mesyuarat telah dihadiri oleh delegasi termasuk Ahli Lembaga IASB, Encik Tadeu Cendon (Pengerusi EEG), Dr. Jianqiao Lu dan Encik Bruce Mackenzie; Staf Teknikal IASB, Cik Roberto Ravelli; serta delegasi dari Afrika Selatan, Arab Saudi, Argentina, Brazil, China, India, Indonesia, Korea Selatan, Malaysia, Mexico, Rusia, dan Turki.
Topik berikut telah dibincangkan dalam mesyuarat tersebut: ● Inisiatif Pendedahan—Anak Syarikat tanpa Kebertanggungjawaban Awam: Pendedahan; ● Kaedah Ekuiti; ● Pelaporan berkaitan Kelestarian; ● Semakan Pasca Pelaksanaan IFRS 9—Pengelasan dan Pengukuran (PIR); dan ● Kemas kini mengenai aktiviti IASB.

MASB telah diwakili oleh Puan Tan Bee Leng.


Dalam mesyuarat ini, Puan Tan telah membentangkan komen MASB tentang Inisiatif Pendedahan dan projek PIR serta membangkitkan beberapa isu aplikasi mengenai perakaunan kaedah ekuiti yang dihadapi oleh pihak berkepentingan di Malaysia.

EEG IASB – Mesyuarat Khas Mesyuarat ini telah membincangkan perkara berikut: 12 Julai 2021 – melalui Mesyuarat Secara Maya ● Inisiatif Pendedahan—Semakan Bersasar Pendedahan peringkat Piawaian; dan ● Komentar Pengurusan.
MASB telah diwakili oleh Ahli Lembaga, Encik Lee Kong Weng dan Puan Tan Bee Leng.

2 0 2 1 Yayasan Laporan Kewangan 104 Peristiwa Sepanjang 2021 Peristiwa Butiran Mesyuarat Antarabangsa Mesyuarat Penetap Piawaian Sedunia (WSS) IASB telah menganjurkan Mesyuarat WSS pada setiap tahun untuk penetap piawaian pelaporan kewangan sedunia.

27-28 September 2021 – melalui Platform Secara Maya Mesyuarat itu memberi peluang kepada NSS untuk mendapatkan kemas kini dan membincangkan aktiviti IFRSF.
Berikut adalah topik yang dibincangkan semasa mesyuarat dua hari tersebut: ● Soal Jawab tentang pelaporan kelestarian; ● Bagaimana pandemik telah mengubah libat urus pihak berkepentingan?

; ● Perundingan Agenda: apakah seterusnya?


; ● Anak Syarikat tanpa Kebertanggungjawaban Awam: Pendedahan; ● Keperluan Pendedahan dalam Piawaian IFRS—Pendekatan Rintis; ● Semakan Pasca Pelaksanaan IFRS 9—Pengelasan dan Pengukuran; ● Soal Jawab tentang Kemas kini IASB dan Kemas kini IFRIC; dan ● Ke arah Penyata Amalan Komentar Pengurusan dipinda.

MASB telah diwakili oleh Pengerusi, Datuk Mohd Nasir Ahmad dan Puan Tan Bee Leng.
Forum Penyelidikan IASB 2021 IASB bersama jurnal akademik, Perakaunan dan Kewangan, telah menganjurkan Forum Penyelidikan IASB 2021.

3-4 November 2021 – melalui Mesyuarat Secara Maya Forum ini diadakan untuk menggalakkan perbincangan antara ahli akademik dan bukan akademik, termasuk penetap piawaian, pelabur, pengawal selia, juruaudit dan penyedia penyata kewangan.
Berikut adalah agenda Forum yang telah diadakan selama dua hari: ● Kos Pelaksanaan IFRS 9 di China; ● Mengurus ketelusan: Adakah penerimaan pakai IFRS dan Inisiatif Pelaporan Global (GRI) memberi impak kepada kefahaman laporan korporat oleh syarikat tersenarai China?

; ● Adakah Piawaian Perakaunan Australia AASB 6 Eksplorasi dan Penilaian Sumber Mineral masih menepati tujuan?

; ● Adakah firma pemeroleh mencapai objektif penggabungan dan perolehan: Bukti dari Jepun?
; ● Impak penerimaan pakai IFRS terhadap kaitan nilai maklumat perakaunan di Arab Saudi; 105 Yayasan Laporan Kewangan 2 0 2 1 Peristiwa Sepanjang 2021 Peristiwa Butiran Mesyuarat Antarabangsa ● Kebergunaan keputusan piawaian perakaunan IFRS untuk SME: Bukti kualitatif dari Sri Lanka; ● Adakah IFRS bahasa yang 'dipercayai' bagi keputusan kredit firma swasta?

Analisis perbezaan negara pada perspektif pengguna; ● Apakah yang mempengaruhi pelaksanaan IFRS untuk SME?
Kes Brazil; dan ● Memperbaiki perolehan sesaham cair: mengiktiraf kesan pencairan opsyen saham pekerja.

MASB telah diwakili oleh Puan Tan Bee Leng.

IFCG yang dahulu dikenali sebagai Kumpulan Perundingan Instrumen dan Urus Niaga Patuh Syariah telah ditubuhkan pada 2013 oleh IASB susulan Perundingan Agenda 2011.

IFCG dipengerusikan oleh Dato’ Mohammad Faiz Azmi dan dipengerusikan bersama Encik Bruce Mackenzie, Ahli Lembaga IASB.
Objektif IFCG adalah untuk membantu IASB dengan perkara berkaitan kewangan Islam, dengan memberi tumpuan kepada cabaran yang mungkin timbul dalam aplikasi Piawaian IFRS ke atas urus niaga kewangan Islam.

Mesyuarat IFCG telah dihadiri delegasi dari Arab Saudi, Bahrain, Emiriah Arab Bersatu, Indonesia, Malaysia, Pakistan, Turki, serta wakil daripada Organisasi Perakaunan dan Pengauditan bagi Institusi Kewangan Islam (AAOIFI).
Berikut adalah perkara yang dibincangkan: ● Semakan Pasca Pelaksanaan IFRS 9—Pengelasan dan Pengukuran; ● IFRS 17 Kontrak Insurans dan Takaful; dan ● Kemas kini teknikal IASB.

MASB telah diwakili oleh Datuk Mohd Nasir Ahmad.

Turut hadir sebagai pemerhati adalah Ahli Lembaga Pengarah, Encik Chan Hooi Lam dan Penasihat Teknikal, Encik Angus Thomson.
Objektif ASAF adalah untuk menyediakan forum penasihat di mana ahlinya boleh memberi sumbangan yang membina ke arah mencapai matlamat IASB untuk membangunkan piawaian perakaunan berkualiti tinggi yang diterima global.

ASAF terdiri daripada 12 ahli termasuk Pengerusi.

tidak mengundi, yang diwakili 12 Pengerusi sebagai Pengerusi ASAF.
atau Naib Pengerusi individu, IASB bertindak 2 0 2 1 Yayasan Laporan Kewangan 106 Mesyuarat Kumpulan Perundingan Kewangan Islam IASB (IFCG) 30 November 2021 – melalui Mesyuarat Secara Maya Forum Penasihat Piawaian Perakaunan (ASAF) IASB 10 Disember 2021 – melalui Persidangan Video Peristiwa Sepanjang 2021 Peristiwa Butiran Mesyuarat Antarabangsa Puan Tan Bee Leng telah mewakili Kumpulan Penetap Piawaian Asia-Oseania (AOSSG) dalam ASAF yang diadakan pada 10 Disember 2021 dan telah membentangkan maklum balas awal ahli AOSSG berkenaan Draf Pendedahan IASB ED/2021/7 Anak Syarikat tanpa Kebertanggungjawaban Awam: Pendedahan.
Kumpulan Penetap Piawaian Asia-Oseania (AOSSG) Mesyuarat Jawatankuasa Penasihat Pengerusi (CAC) AOSSG AOSSG merupakan perkumpulan penetap piawaian perakaunan di telah ditubuhkan bagi rantau Asia-Oseania.

Kumpulan membincangkan isu dan berkongsi pengalaman dalam penerimaan pakai Piawaian IFRS dan untuk menyumbang kepada pembangunan piawaian perakaunan global yang berkualiti tinggi.
ini MASB menyertai Mesyuarat CAC AOSSG yang diadakan secara berkala untuk membantu Pengerusi dan Naib Pengerusi AOSSG dalam melaksanakan tugas mereka, termasuk: ● merancang dan menyelaras aktiviti AOSSG demi mengekalkan kesinambungan operasi aktiviti AOSSG, termasuk mesyuarat; ● bertukar maklumat tentang aktiviti Kumpulan Kerja AOSSG, termasuk memberikan input dan hala tuju pertimbangan Kumpulan Kerja pada peringkat awal; ● menyatukan pandangan di kalangan ahli AOSSG mengenai topik tertentu, dan berkomunikasi dengan pihak IASB dan Pemegang Amanah IFRSF mengenai perkara yang bukan tertakluk di bawah Kumpulan Kerja; dan ● bertukar pandangan tentang strategi komunikasi AOSSG.
Keahlian CAC AOSSG terdiri daripada Sri Lanka (Pengerusi), Pakistan (Naib Pengerusi), Australia, China, Hong Kong, India, Jepun, Korea Selatan, Malaysia, dan Singapura.
tahun ini, pasukan Pada teknikal MASB yang diketuai oleh Puan Tan Bee Leng telah menyertai lima mesyuarat CAC AOSSG yang telah diadakan secara maya pada tarikh berikut: ● 19 Januari 2021 ● 16 Mac 2021 ● 20 Mei 2021 ● 29 Julai 2021 ● 22 November 2021 107 Yayasan Laporan Kewangan 2 0 2 1 Peristiwa Sepanjang 2021 Peristiwa Butiran Kumpulan Penetap Piawaian Asia-Oseania (AOSSG) Mesyuarat Interim AOSSG 17 September 2021 – melalui Mesyuarat Secara Maya AOSSG mengadakan mesyuarat interim sebelum mesyuarat tahunan AOSSG.
Mesyuarat ini membincangkan perkara berikut: ● Pengelasan Hutang dengan Kovenan sebagai Semasa atau Tidak Semasa; ● Pengaturan Pembiayaan Pembekal; ● Usaha Berterusan; ● Cabaran dalam pelaksanaan IFRS 17 di Sri Lanka; ● Pelaksanaan IFRS 17 Kontrak Insurans – Proses yang diterima pakai oleh MASB; ● Persiapan Mesyuarat Tahunan AOSSG 2021; dan ● Kemas kini daripada bidang kuasa AOSSG.
MASB diwakili oleh Puan Tan Bee Leng, telah membentangkan topik ‘Pelaksanaan IFRS 17 Kontrak Insurans – Proses yang diterima pakai oleh MASB’.

Turut hadir adalah Puan Nadiah Ismail; Pengurus Kanan Teknikal, Cik Chow Hsiao Mei; dan Pengurus Teknikal, Puan Idawaty Mohd Hasan dan Puan Cathrine Su.
yang Mesyuarat Kumpulan Kerja AOSSG tentang IFRS untuk SME 15 Oktober 2021 – melalui Mesyuarat Secara Maya Mesyuarat Kumpulan Kerja AOSSG tentang IFRS untuk SME telah diadakan untuk berbincang serta mengumpulkan pandangan tentang Draf Pendedahan IASB ED/2021/7 Anak Syarikat tanpa Kebertanggungjawaban Awam: Pendedahan.

Keahlian Kumpulan Kerja AOSSG tentang IFRS untuk SME terdiri daripada Malaysia (Ketua), Bangladesh, Cambodia, Indonesia, Nepal, Pakistan, Sri Lanka dan Syria.
Mesyuarat Kumpulan Kerja AOSSG AOSSG telah mengadakan mesyuarat Kumpulan Kerja sebelum mesyuarat tahunan AOSSG.

22 November 2021 – melalui Mesyuarat Secara Maya Berikut adalah topik yang telah dibincangkan: ● Draf Pendedahan IASB – Keperluan pendedahan dalam Piawaian IFRS (Pendekatan Rintis); ● Permohonan Maklumat – Perundingan Agenda Ketiga; dan ● Draf Anak Kebertanggungjawaban Awam: Pendedahan.
Pendedahan IASB – Syarikat tanpa 2 0 2 1 Yayasan Laporan Kewangan 108 Peristiwa Sepanjang 2021 Peristiwa Butiran Kumpulan Penetap Piawaian Asia-Oseania (AOSSG) telah MASB diwakili oleh Puan Tan Bee Leng, membentangkan topik ‘Anak Syarikat tanpa Kebertanggungjawaban Awam: Pendedahan’.

Turut hadir adalah Puan Nadiah Ismail, Puan Idawaty Mohd Hasan dan Puan Cathrine Su.
yang Mesyuarat Tahunan AOSSG ke-13 23-24 November 2021 – melalui Mesyuarat Secara Maya Mesyuarat Tahunan AOSSG yang ke-13 telah dianjurkan oleh Institut Akauntan Berkanun Sri Lanka (CA Sri Lanka).

Disebabkan pandemik COVID-19, mesyuarat tahunan telah diadakan secara maya.

Mesyuarat tersebut telah dihadiri oleh 21 ahli bidang kuasa AOSSG serta wakil daripada IASB.
MASB diwakili oleh Datuk Mohd Nasir Ahmad, Puan Tan Bee Leng, Encik Angus Thomson, Puan Nadiah Ismail, Puan Idawaty Mohd Hasan dan Puan Cathrine Su.
Topik teknikal berikut telah dibentangkan semasa mesyuarat ini: ● Kemas Kini Teknikal IASB dan IFRIC; ● Pengajaran daripada pelepasan peralihan dan manfaat praktikal IFRS 16 Pajakan; ● Dapatan daripada Penyelidikan tentang Aset Tak Ketara; ● Pandangan Awal ASBJ tentang ED – Keperluan pendedahan dalam Piawaian IFRS (Pendekatan Rintis); ● Isu dalam IAS 7 Penyata Aliran Tunai; ● Kawal Selia Perakaunan – Perkembangan Antarabangsa dan Pengalaman Pakistan; ● Kewangan Islam: Penerimaan pakai IFRS 17 dan Takaful; ● Aplikasi IFRS 17 di Thailand; ● Pertimbangan Cukai Korporat di bawah IFRS 17 di Korea Selatan; ● Asas Pembubaran Piawaian Pelaporan Kewangan; dan ● Kemas kini mengenai Aplikasi IFRS di Indonesia.
Encik Angus Thomson telah membentangkan topik ‘Pengajaran daripada pelepasan peralihan dan manfaat praktikal IFRS 16 Pajakan’ bersama dengan wakil Lembaga Piawaian Perakaunan Australia, manakala Puan Nadiah Ismail membentangkan tentang ‘Kewangan Islam: Penerimaan pakai IFRS 17 dan Takaful’.
109 Yayasan Laporan Kewangan 2 0 2 1 Peristiwa Sepanjang 2021 Peristiwa Butiran Aktiviti Jangkauan Luar Jangkauan Luar Bersama IASB-MASB tentang Semakan Pasca Pelaksanaan (PIR) IFRS 10 Penyata Kewangan Disatukan, IFRS 11 Pengaturan Bersama dan IFRS 12 Pendedahan Kepentingan dalam Entiti Lain 17 dan 18 Mac 2021 – melalui Mesyuarat Secara Maya langkah untuk mendapatkan maklum balas berharga Sebagai daripada penyedia penyata kewangan mengenai Permohonan Maklumat untuk Semakan Pasca Pelaksanaan IFRS 10 Penyata Kewangan Disatukan, IFRS 11 Pengaturan Bersama dan IFRS 12 Pendedahan Kepentingan dalam Entiti Lain, MASB telah menganjurkan sesi jangkauan luar bersama IASB.
Sesi ini telah dikendalikan oleh Ahli Lembaga IASB, Cik Ann Tarca dan Staf Teknikal IASB, Encik Filippo Poli, Cik Michelle Sansom, Encik Zhen Xu dan Cik Wenyi Zheng; dan telah dihadiri oleh wakil daripada syarikat tersenarai awam.

telah Lam, MASB Puan Tan Bee Leng, Puan Nadiah Ismail, Puan Idawaty Mohd Hasan, Puan Cathrine Su dan Encik Mohd Nazi Mat Yusoff.
Encik Chan Hooi diwakili oleh Sesi bersama penyedia SME: Semakan Piawaian IFRS untuk SME telah menganjurkan dua sesi antara staf IASB dan MASB penyedia SME untuk mendapatkan pandangan mengenai semakan komprehensif Piawaian IFRS untuk SME, terutamanya mengenai penjajaran Piawaian IFRS untuk SME dengan Piawaian IFRS.
25 dan 29 Mac 2021 – melalui Mesyuarat Secara Maya Jangkauan Luar Bersama IASB-MASB tentang Draf Pendedahan IASB ED/2021/1 Aset Kawal Selia dan Liabiliti Kawal Selia 9 April 2021 – melalui Persidangan Secara Maya Sesi ini telah dihadiri oleh wakil dari organisasi SME dan penyedia SME; dan Staf Teknikal IASB, Cik Michelle Sansom dan Encik Yousouf Hansye.

MASB diwakili oleh Puan Tan Bee Leng, Puan Nadiah Ismail, dan Eksekutif Teknikal Kanan, Puan Maisarah Mustapa.
Pada tahun ini, IASB telah menerbitkan Draf Pendedahan IASB ED/2021/1 Aset Kawal Selia dan Liabiliti Kawal Selia yang mencadangkan akan mengkehendaki syarikat yang tertakluk kepada pengawalseliaan kadar untuk memberi maklumat yang lebih baik kepada pelabur mengenai prestasi kewangan mereka.
perakaunan piawaian baharu yang MASB dengan kolaborasi bersama IASB telah menganjurkan sesi jangkauan luar tentang Draf Pendedahan ini bagi menyediakan platform kepada pihak berkepentingan untuk mereka berkongsi pandangan mengenai cadangan tersebut.
Jangkauan luar ini telah dihadiri oleh wakil daripada syarikat IASB, tersenarai awam dan dikendalikan oleh Ahli Lembaga Dr. Jianqiao Lu dan Cik Rika Suzuki; Staf Teknikal IASB, Encik Raghava Tirumala, Cik Mariela Isern, Encik Zicheng Wang, dan Encik Shahid Umar.

telah diwakili MASB Lembaga, Encik New oleh Ahli Kheng Chee; Puan Tan Bee Leng, Puan Patricia McBride, Puan Nadiah Ismail, Puan Cathrine Su dan Encik Mohd Nazi Mat Yusoff.
2 0 2 1 Yayasan Laporan Kewangan 110 Peristiwa Sepanjang 2021 Peristiwa Butiran Aktiviti Jangkauan Luar Sesi Libat Urus Bersama IASB tentang Draf Pendedahan IASB ED/2021/3 Keperluan Pendedahan dalam Piawaian IFRS—Pendekatan Rintis 11 Jun 2021 – melalui Persidangan Secara Maya Forum Awam Maya: Draf Pendedahan IASB ED/2021/3 Keperluan Pendedahan dalam Piawaian IFRS—Pendekatan Rintis 26 Julai 2021 – melalui Persidangan Secara Maya Jangkauan Luar Maya IASB-CASC-MASB tentang Permohonan Maklumat: Perundingan Agenda Ketiga 27 Julai 2021 – melalui Persidangan Secara Maya MASB telah menganjurkan sesi libat urus bersama IASB mengenai Draf Pendedahan IASB ED/2021/3 Keperluan Pendedahan dalam Piawaian IFRS—Pendekatan Rintis untuk ahli kumpulan kerja MASB dan pihak berkepentingan utama yang lain.
Sesi libat urus ini telah dikendalikan oleh Staf Teknikal IASB, Cik Kathryn Donkersley.

MASB telah diwakili oleh Ahli Lembaga, Dato’ Soo Chan Fai, Encik Chan Hooi Lam, dan Encik Lee Kong Weng.

Turut hadir adalah Puan Tan Bee Leng dan pasukan teknikal MASB.

MASB telah menganjurkan forum awam maya bagi memberikan gambaran keseluruhan mengenai Draf Pendedahan IASB ED/2021/3 Keperluan Pendedahan dalam Piawaian IFRS—Pendekatan Rintis dan mendapatkan pandangan mengenai cadangan tersebut.
Forum awam ini meneroka cadangan IASB tentang pendekatan baharu untuk membangunkan keperluan pendedahan dalam Piawaian IFRS.

Aplikasi keperluan pendedahan yang dibangunkan berdasarkan pendekatan baharu dijangka akan mengubah cara pihak berkepentingan membuat penyediaan, semakan, audit, dan penguatkuasaan pendedahan dalam penyata kewangan.

Forum awam ini telah dikendalikan oleh Encik Danny Tan Boon Wooi, Pengurus Projek untuk Kumpulan Kerja MASB 70 Inisiatif Pendedahan.
Forum ini dihadiri oleh 85 orang peserta, yang terdiri daripada ahli akademik, pengamal, penyedia, badan profesional dan pengawal selia.

IASB, MASB dan Jawatankuasa Piawaian Dengan kerjasama Perakaunan China (CASC) telah bersama-sama menganjurkan sesi jangkauan luar bagi menyediakan gambaran keseluruhan mengenai Permintaan Maklumat: Perundingan Agenda Ketiga dan mendapatkan pandangan daripada para peserta tentang apa yang harus menjadi keutamaan IASB dalam masa lima tahun akan datang.
Sesi jangkauan luar ini telah dikendalikan oleh Dr. Jianqiao Lu; Pengarah Teknikal IASB, Cik Nili Shah; dan Staf Teknikal IASB, Encik Rafal Markowski.

Sesi ini telah dihadiri oleh 58 orang peserta dari lapan bidang kuasa iaitu, Australia, China, Hong Kong, India, Korea Selatan, Malaysia, Singapura dan Sri Lanka.

Terdapat gabungan peserta yang menarik, terdiri daripada ahli akademik, penetap piawaian, pengamal, penyedia dan pengawal selia.
111 Yayasan Laporan Kewangan 2 0 2 1 Peristiwa Sepanjang 2021 Peristiwa Butiran Aktiviti Jangkauan Luar Jangkauan Luar Maya IASB-ICAI-MASB tentang Draf Pendedahan IASB ED/2021/7 Anak Syarikat tanpa Kebertanggungjawaban Awam: Pendedahan 21 Oktober 2021 – melalui Persidangan Secara Maya dan IASB dengan bersama kolaborasi Institut MASB Akauntan Berkanun India (ICAI) telah bersama-sama menganjurkan sesi jangkauan luar mengenai Draf Pendedahan IASB ED/2021/7 Anak Syarikat tanpa Kebertanggungjawaban Awam: Pendedahan.
Jangkauan luar maya ini memberikan gambaran keseluruhan tentang Draf Pendedahan yang mengemukakan cadangan bagi Piawaian IFRS yang layak untuk mengaplikasi keperluan pendedahan yang dikurangkan dengan keperluan pengiktirafan, pengukuran dan pembentangan dalam Piawaian IFRS.

yang membenarkan syarikat baharu anak Jangkauan luar maya ini telah dikendalikan oleh Cik Ann Tarca dan Cik Rika Suzuki; dan dihadiri oleh Staf Teknikal IASB, Encik Jan Carlo Perera dan Cik Hazirah Hasni.
Sesi ini telah dihadiri oleh 54 orang peserta dari 12 buah negara iaitu Australia, Hong Kong, India, Indonesia, Jepun, Korea Selatan, Malaysia, New Zealand, Pakistan, Switzerland, United Kingdom dan Vietnam.

Terdapat gabungan peserta yang menarik, yang terdiri daripada ahli akademik, penetap piawaian, pengamal, penyedia dan pengawal selia.
Sesi Bersama Ahli Akademik / Pelajar Sepanjang tahun ini, MASB telah mengadakan dua sesi untuk memberi taklimat kepada pelajar universiti tempatan tentang peranan dan tanggungjawab MASB sebagai penetap piawaian perakaunan nasional serta rangka kerja pelaporan kewangan di Malaysia.
Secara keseluruhannya, seramai 215 orang pelajar telah menghadiri sesi taklimat tersebut, seperti yang diperincikan di bawah: Universiti Malaysia Terengganu (UMT) Taklimat ini telah disampaikan oleh Puan Nadiah Ismail dan Cik Fara Naziha Mat Khamal.

Ia telah dihadiri oleh seramai 150 orang pelajar.

Universiti Teknologi MARA (UiTM) Taklimat ini telah disampaikan oleh Puan Maisarah Mustapa.

Ia telah dihadiri oleh seramai 65 orang pelajar.
23 Oktober 2021 – melalui Persidangan Secara Maya 15 Disember 2021 – melalui Persidangan Secara Maya 2 0 2 1 Yayasan Laporan Kewangan 112 Peristiwa Sepanjang 2021 Peristiwa Butiran Sesi Bersama Ahli Akademik / Pelajar 16 Jun 2021 – melalui Persidangan Secara Maya 18 Disember 2021 – melalui Persidangan Secara Maya Jemputan Berucap Dialog BNM-FIDE FORUM- MASB tentang MFRS 17 Kontrak Insurans 20 April 2021 – melalui Persidangan Secara Maya Selain itu, MASB telah terlibat dalam dua sesi secara maya untuk menyediakan platform bagi para pelajar dan pensyarah untuk lebih memahami peranan dan tanggungjawab Jawatankuasa Aplikasi dan Pelaksanaan MFRS (MAIC) dalam ekosistem pelaporan kewangan serta proses wajarnya.
Secara keseluruhannya, seramai 305 orang pelajar telah menghadiri sesi taklimat tersebut, seperti yang diperincikan di bawah: Politeknik Ungku Omar Sesi ini telah dianjurkan oleh Institut Akauntan Awam Bertauliah Malaysia (MICPA) dan disampaikan oleh Pengarah Projek (Aktiviti Pelaksanaan MFRS), Encik Foo Yoke Pin.

Ia telah dihadiri oleh seramai 217 orang pelajar.

Universiti Sains Malaysia (USM) Taklimat ini telah disampaikan oleh Encik Foo Yoke Pin.
Ia telah dihadiri oleh seramai lima orang pensyarah dan 88 orang pelajar.

perakaunan insurans, Piawaian MFRS 17 Kontrak Insurans, pada asasnya akan mengubah pengukuran dan pelaporan kontrak insurans dan takaful apabila ia berkuatkuasa pada 1 Januari 2023. kontrak untuk Sehubungan itu, FIDE FORUM telah menganjurkan satu sesi dialog untuk pengarah bank mengenai 'MFRS 17 Kontrak Insurans: Apa yang Harus Diketahui oleh Setiap Pengarah'.
Sesi itu telah disampaikan oleh Encik Darrel Scott, Pengerusi Pasukan Petugas Pelaksanaan MFRS 17 MASB dan mantan Ahli Lembaga IASB, dan telah dihadiri oleh seramai 170 orang pengarah.

Ucapan perasmian telah disampaikan oleh Penolong Gabenor BNM yang juga Ahli FRF, Encik Aznan Abdul Aziz; dan sesi Dialog ini telah dikendalikan oleh Encik New Kheng Chee.
Sesi Dialog ini dihadiri oleh Encik Mohamed Raslan Abdul Rahman dan Datuk Mohd Nasir Ahmad; Ahli dan Penasihat Lembaga, Encik Chan Hooi Lam, Encik Lee Kong Weng, Dato’ Mohamed Rafique Merican (mantan Ahli Lembaga), dan Encik Yap Weng Seong.

Puan Nor Yati Ahmad hadir bagi pihak Ahli Lembaga, Datuk Dr. Yacob bin Mustafa.

Turut hadir adalah Puan Tan Bee Leng, Puan Nadiah Ismail dan Cik Fara Naziha Mat Khamal.
113 Yayasan Laporan Kewangan 2 0 2 1 Peristiwa Sepanjang 2021 Peristiwa Butiran Jemputan Berucap Persekutuan Akauntan ASEAN (AFA) – Perundingan Agenda Ketiga IASB AFA telah menganjurkan webinar untuk mengendalikan perbincangan antara pihak berkepentingan ASEAN dan IASB sebagai sebahagian daripada Perundingan Agenda Ketiga.
5 Julai 2021 – melalui Webinar Cik Rika Suzuki dan Staf Teknikal IASB, Cik Rachel Knubley dan Encik Rafal Markowski, telah membentangkan perundingan IASB untuk aktiviti 2022-2026 dan rancangan kerjanya.

Webinar itu dihadiri oleh 200 orang peserta dari 16 buah negara.

MASB diwakili oleh Puan Tan Bee Leng sebagai salah seorang ahli panel.
Persidangan Kewangan Islam 2021 27 Oktober 2021 – melalui Persidangan Secara Maya Sekretariat MASB telah dijemput untuk menjadi salah seorang pence- ramah di Persidangan Kewangan Islam 2021 bertemakan ‘Kewangan Islam: Perkembangan Terkini dan Pemacu Pertumbuhan dalam Dunia Pasca Pandemik’, anjuran Institut Akauntan Malaysia (MIA).

MASB telah diwakili oleh Puan Nadiah Ismail, yang membentangkan ‘Kemas kini Pelaporan Kewangan bagi Urus Niaga Kewangan Islam’.
Forum Piawaian Perakaunan Persekutuan Akauntan Asia Selatan (SAFA) 2021 Sekretariat MASB telah dijemput untuk berucap di Forum Piawaian Perakaunan SAFA 2021 bertemakan ‘Cabaran dalam Pelaporan Ke- wangan dan Hala Tuju Ke Hadapan’, yang dihoskan oleh CA Sri Lanka.

8 Disember 2021 – melalui Persidangan Secara Maya Encik Angus Thomson dan Puan Nadiah telah membentangkan topik 'Kewangan Islam bagi IFRS 9 dan IFRS 17'.

Forum ini telah dihadiri seramai 150 orang peserta.
Ismail 2 0 2 1 Yayasan Laporan Kewangan 114 Muka surat ini sengaja dibiarkan kosong KEPUTUSAN PENILAIAN PENCAPAIAN BAGI TAHUN 2021 (SPA 1/2012) 2 0 2 1 Yayasan Laporan Kewangan 116 Muka surat ini sengaja dibiarkan kosong OBJEKTIF KELUARAN YANG DIHASILKAN 1.

Senarai pernyataan teknikal yang diterbitkan MASB pada tahun 2021 (1) Untuk menghasilkan piawaian perakaunan yang berkualiti tinggi untuk pelaporan kewangan bagi manfaat pengguna, penyedia, juruaudit dan pihak awam.
Rangka Kerja MFRS Pindaan kepada Piawaian MFRS Pendedahan Dasar Perakaunan (Pindaan kepada MFRS 101 Pembentangan Penyata Kewangan dan Penyata Amalan 2 MFRS Membuat Penghakiman Kematanan) Definisi Anggaran Perakaunan (Pindaan kepada MFRS 108 Dasar Perakaunan, Perubahan dalam Anggaran Perakaunan dan Kesilapan) Konsesi Sewa Berkaitan Covid-19 melangkaui 30 Jun 2021 (Pindaan kepada MFRS 16 Pajakan) Tarikh Terbitan Tarikh Kuat Kuasa 15 Mac 2021 15 Mac 2021 1 Januari 2023 1 Januari 2023 KEPUTUSAN YANG DIKEHENDAKI Penerimaan pakai piawaian IASB yang tepat pada masanya selepas proses wajar.
PENUNJUK PRESTASI Tarikh diterbitkan oleh IASB/IFRIC dan tarikh kuat kuasa Tarikh Terbitan Tarikh Kuat Kuasa 12 Februari 2021 1 Januari 2023 12 Februari 2021 1 Januari 2023 PRESTASI SEBENAR Semua Piawaian IFRS yang diterbitkan oleh IASB dan Keputusan Agenda yang diterbitkan oleh IFRIC diterima pakai tepat pada masanya selepas proses wajar.
6 April 2021 1 April 2021 31 Mac 2021 1 April 2021 Cukai Tertunda berkaitan Aset dan Liabiliti terhasil daripada Urus Niaga Tunggal (Pindaan kepada MFRS 112 Cukai Pendapatan) 30 Jun 2021 Aplikasi Awal MFRS 17 dan MFRS 9—Maklumat Perbandingan (Pindaan kepada MFRS 17 Kontrak Insurans) 30 Disember 2021 1 Januari 2023 1 Januari 2023 Keputusan Agenda Jawatankuasa Interpretasi IFRS (IFRIC) No.
Tajuk IFRS 9 Instrumen Kewangan Notifikasi diterbitkan pada 1 Kebolehubahan Lindung Nilai dalam Aliran Tunai kerana Kadar Faedah Sebenar Jun 2021 IFRS 16 Pajakan 7 Mei 2021 1 Januari 2023 9 Disember 2021 1 Januari 2023 Diterbitkan oleh IFRIC Mei 2021 2 Cukai Nilai Ditambah Tanpa Bayaran Balik ke atas Bayaran Pajakan November 2021 Oktober 2021 IAS 2 Inventori 3 Kos yang Diperlukan untuk Menjual Inventori Julai 2021 IAS 10 Peristiwa Selepas Tempoh Pelaporan 4 Penyediaan Penyata Kewangan apabila Entiti bukan lagi Usaha Berterusan Julai 2021 IAS 19 Manfaat Pekerja 5 Mengaitkan Manfaat kepada Tempoh Perkhidmatan Jun 2021 IAS 32 Instrumen Kewangan: Pembentangan 6 Perakaunan untuk Waran yang Dikelaskan sebagai Liabiliti Kewangan pada Pengiktirafan Awal November 2021 IAS 38 Aset Tak Ketara 7 Kos Konfigurasi atau Penyesuaian dalam Pengaturan Pengkomputeran Awam Mei 2021 Jun 2021 Jun 2021 Mei 2021 Oktober 2021 April 2021 2 0 2 1 Yayasan Laporan Kewangan 118 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) OBJEKTIF KELUARAN YANG DIHASILKAN 2.
Pernyataan Teknikal MASB No.

Tajuk Tarikh Terbitan Tarikh Terbitan Tarikh Kuat Kuasa 1 Prakata kepada Pernyataan Teknikal dan Panduan 19 Februari 2021 Tiada dokumen setara.

KEPUTUSAN YANG DIKEHENDAKI Penerimaan pakai piawaian IASB yang tepat pada masanya selepas proses wajar.
PENUNJUK PRESTASI Tarikh diterbitkan oleh IASB/IFRIC dan tarikh kuat kuasa PRESTASI SEBENAR Semua Piawaian IFRS yang diterbitkan oleh IASB dan Keputusan Agenda yang diterbitkan oleh IFRIC diterima pakai tepat pada masanya selepas proses wajar.

(1) Untuk menghasilkan piawaian perakaunan yang berkualiti tinggi untuk pelaporan kewangan bagi manfaat pengguna, penyedia, juruaudit dan pihak awam (sambungan).
Pencapaian KPI (%) Semua Piawaian IFRS yang diterbitkan oleh IASB dan Keputusan Agenda yang diterbitkan oleh IFRIC diterima pakai tepat pada masanya selepas proses wajar.
100% 119 Yayasan Laporan Kewangan 2 0 2 1 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) OBJEKTIF KELUARAN YANG DIHASILKAN (2) Untuk mengambil bahagian dan menyumbang kepada proses penetapan piawaian perakaunan IASB dalam membangunkan satu set piawaian pelaporan kewangan berkualiti tinggi yang diterima global untuk kegunaan antarabangsa.

1.

Senarai draf pernyataan teknikal yang diterbitkan pada 2021 No.
Tajuk Draf Pendedahan Yayasan IFRS 1 ED/2021/5 Cadangan Pindaan Bersasar kepada Perlembagaan Yayasan IFRS untuk Menubuhkan Lembaga Piawaian Kelestarian Antarabangsa bagi Menetapkan Piawaian Kelestarian IFRS Permohonan Maklumat IASB KEPUTUSAN YANG DIKEHENDAKI PENUNJUK PRESTASI Pematuhan penuh terhadap proses wajar tepat pada masanya.
Tarikh diterbitkan oleh IASB, IFRIC dan Yayasan IFRS (IFRSF) serta tarikh akhir komen PRESTASI SEBENAR Semua draf pernyataan yang diterbitkan oleh IASB, IFRIC dan IFRSF telah diterbitkan tepat pada masanya untuk pendedahan awam di Malaysia.
Tarikh Terbitan Tarikh akhir komen kepada MASB Tarikh Terbitan Tarikh Akhir Komen 3 Mei 2021 30 Jun 2021 30 April 2021 29 Julai 2021 2 3 Perundingan Agenda Ketiga 2 April 2021 13 Ogos 2021 30 Mac 2021 27 September 2021 Semakan Pasca Pelaksanaan IFRS 9 Instrumen Kewangan—Pengelasan dan Pengukuran 1 Oktober 2021 31 Disember 2021 30 September 2021 28 Januari 2022 Draf Pendedahan IASB ED/2021/1 Aset Kawal Selia dan Liabiliti Kawal Selia ED/2021/2 Konsesi Sewa Berkaitan Covid-19 melangkaui 30 Jun 2021 (Cadangan pindaan kepada IFRS 16 Pajakan) ED/2021/3 Keperluan Pendedahan dalam Piawaian IFRS—Pendekatan Rintis (Cadangan pindaan kepada IFRS 13 Pengukuran Nilai Saksama dan IAS 19 Manfaat Pekerja) ED/2021/4 Kekurangan Kebolehtukaran (Cadangan pindaan kepada IAS 21 Kesan Perubahan Kadar Tukaran Wang Asing) 2 Februari 2021 11 Februari 2021 30 Jun 2021 28 Januari 2021 30 Julai 2021 19 Februari 2021 11 Februari 2021 25 Februari 2021 2 April 2021 18 November 2021 25 Mac 2021 12 Januari 2022 26 April 2021 30 Julai 2021 20 April 2021 1 September 2021 ED/2021/6 Komentar Pengurusan 1 Jun 2021 22 Oktober 2021 27 Mei 2021 23 November 2021 ED/2021/7 Anak Syarikat tanpa Kebertanggungjawaban Awam: Pendedahan 29 Julai 2021 10 Disember 2021 26 Julai 2021 31 Januari 2022 ED/2021/8 Aplikasi Awal IFRS 17 dan IFRS 9— Maklumat Perbandingan (Cadangan pindaan kepada IFRS 17 Kontrak Insurans) ED/2021/9 Liabiliti Bukan Semasa dengan Kovenan (Cadangan pindaan kepada IAS 1 Pembentangan Penyata Kewangan) IASB ED/2021/10 Pengaturan Pembiayaan Pembekal (Cadangan pindaan kepada IAS 7 Penyata Aliran Tunai dan IFRS 7 Instrumen Kewangan: Pendedahan) 29 Julai 2021 27 Ogos 2021 28 Julai 2021 27 September 2021 23 November 2021 22 Februari 2022 30 November 2021 28 Februari 2022 19 November 2021 21 Mac 2022 30 November 2021 28 Mac 2022 2 0 2 1 Yayasan Laporan Kewangan 120 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) (2) Untuk mengambil bahagian dan menyumbang kepada proses penetapan piawaian perakaunan IASB dalam membangunkan satu set piawaian pelaporan kewangan berkualiti tinggi yang diterima global untuk kegunaan antarabangsa (sambungan).
OBJEKTIF KELUARAN YANG DIHASILKAN Tarikh Terbitan Tarikh akhir komen kepada MASB 16 Februari 2021 16 Februari 2021 19 Mac 2021 19 Mac 2021 KEPUTUSAN YANG DIKEHENDAKI Pematuhan penuh terhadap proses wajar tepat pada masanya.

PENUNJUK PRESTASI Tarikh Terbitan Tarikh Akhir Komen 12 Februari 2021 14 April 2021 12 Februari 2021 14 April 2021 PRESTASI SEBENAR Semua draf pernyataan yang diterbitkan oleh IASB, IFRIC dan IFRSF telah diterbitkan tepat pada masanya untuk pendedahan awam di Malaysia.
2 April 2021 30 April 2021 24 Mac 2021 24 Mei 2021 2 April 2021 30 April 2021 24 Mac 2021 24 Mei 2021 21 Jun 2021 16 Julai 2021 17 Jun 2021 16 Ogos 2021 21 Jun 2021 16 Julai 2021 17 Jun 2021 16 Ogos 2021 No.
Tajuk Keputusan Agenda Tentatif IFRIC Kos yang Diperlukan untuk Menjual Inventori (IAS 2 Inventori) Penyediaan Penyata Kewangan apabila Entiti Bukan Lagi Usaha Berterusan (IAS 10 Peristiwa Selepas Tempoh Pelaporan) Cukai Nilai Ditambah Tanpa Bayaran Balik ke atas Bayaran Pajakan (IFRS 16 Pajakan) Perakaunan untuk Waran yang Dikelaskan sebagai Liabiliti Kewangan pada Pengiktirafan Awal (IAS 32 Instrumen Kewangan: Pembentangan) Manfaat Ekonomi daripada Penggunaan Ladang Angin (IFRS 16 Pajakan) Urus Niaga TLTRO III (IFRS 9 Instrumen Kewangan dan IAS 20 Perakaunan untuk Geran Kerajaan dan Pendedahan Bantuan Kerajaan) Tunai Diterima melalui Pindahan Elektronik sebagai Penyelesaian bagi Aset Kewangan (IFRS 9 Instrumen Kewangan) 27 September 2021 25 Oktober 2021 Deposit Permintaan dengan Sekatan Penggunaan (IAS 7 Penyata Aliran Tunai) 27 September 2021 25 Oktober 2021 Antara Prinsipal dengan Agen: Penjual semula Perisian (IFRS 15 Hasil daripada Kontrak dengan Pelanggan) 13 Disember 2021 14 Januari 2022 23 September 2021 25 November 2021 23 September 2021 25 November 2021 10 Disember 2021 8 Februari 2022 2.
Semakan draf pernyataan IASB, Keputusan Agenda Tentatif IFRIC dan Kertas Perundingan IFRSF serta senarai surat komen yang dihantar Tarikh diterbitkan oleh IASB, IFRIC dan IFRSF serta tarikh akhir komen No.

Tajuk Draf Pendedahan Yayasan IFRS Surat komen dihantar pada Tarikh Terbitan Tarikh Akhir Komen Surat maklum balas kepada IASB, IFRIC dan IFRSF telah dihantar tepat pada masanya selepas proses perundingan dengan konstituen kami.
1 ED/2021/5 Cadangan Pindaan Bersasar kepada Perlembagaan Yayasan IFRS untuk Menubuhkan Lembaga Piawaian Kelestarian Antarabangsa bagi Menetapkan Piawaian Kelestarian IFRS 29 Julai 2021 Permohonan Maklumat IASB 2 Semakan Pasca Pelaksanaan IFRS 10 Penyata Kewangan Disatukan, IFRS 11 Pengaturan Bersama dan IFRS 12 Pendedahan Kepentingan Dalam Entiti Lain 10 Mei 2021 30 April 2021 29 Julai 2021 9 Disember 2020 10 Mei 2021 121 Yayasan Laporan Kewangan 2 0 2 1 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) OBJEKTIF KELUARAN YANG DIHASILKAN (2) Untuk mengambil bahagian dan menyumbang kepada proses penetapan piawaian perakaunan IASB dalam membangunkan satu set piawaian pelaporan kewangan berkualiti tinggi yang diterima global untuk kegunaan antarabangsa (sambungan).
No.

Tajuk Permohonan Maklumat IASB 3 Perundingan Agenda Ketiga Kertas Perbincangan IASB 4 DP/2020/2 Kombinasi Perniagaan di bawah Kawalan Sepunya Draf Pendedahan IASB Surat komen dihantar pada 27 September 2021 1 September 2021 KEPUTUSAN YANG DIKEHENDAKI Pematuhan penuh terhadap proses wajar tepat pada masanya.
PENUNJUK PRESTASI Tarikh Terbitan Tarikh Akhir Komen 30 Mac 2021 27 September 2021 30 November 2020 1 September 2021 PRESTASI SEBENAR Surat maklum balas kepada IASB, IFRIC dan IFRSF telah dihantar tepat pada masanya selepas proses perundingan dengan konstituen kami.
ED/2021/2 Konsesi Sewa Berkaitan Covid-19 melangkaui 30 Jun 2021 (Cadangan pindaan kepada IFRS 16 Pajakan) 25 Februari 2021 11 Februari 2021 25 Februari 2021 ED/2020/4 Liabiliti Pajakan dalam Jualan dan Pajakan Balik (Cadangan pindaan kepada IFRS 16 Pajakan) 29 Mac 2021 27 November 2020 29 Mac 2021 ED/2021/1 Aset Kawal Selia dan Liabiliti Kawal Selia 30 Julai 2021 28 Januari 2021 30 Julai 2021 ED/2021/4 Kekurangan Kebolehtukaran (Cadangan pindaan kepada IAS 21 Kesan Perubahan Kadar Tukaran Wang Asing) 1 September 2021 ED/2021/8 Aplikasi Awal IFRS 17 dan IFRS 9—Maklumat Perbandingan (Cadangan pindaan kepada IFRS 17 Kontrak Insurans) 24 September 2021 10 ED/2021/6 Komentar Pengurusan Keputusan Agenda Tentatif IFRIC 23 November 2021 11 12 13 Pengelasan Hutang dengan Kovenan sebagai Semasa atau Bukan Semasa (IAS 1 Pembentangan Penyata Kewangan) Mengaitkan Manfaat kepada Tempoh Perkhidmatan (IAS 19 Manfaat Pekerja) 15 Februari 2021 15 Februari 2021 Kos Konfigurasi atau Penyesuaian dalam Pengaturan Pengkomputeran Awam (IAS 38 Aset Tak Ketara) 15 Februari 2021 20 April 2021 1 September 2021 28 Julai 2021 27 September 2021 27 Mei 2021 23 November 2021 14 Disember 2020 15 Februari 2021 14 Disember 2020 15 Februari 2021 14 Disember 2020 15 Februari 2021 14 Kos yang Diperlukan untuk Menjual Inventori (IAS 2 Inventori) 14 April 2021 12 Februari 2021 14 April 2021 15 16 17 Penyediaan Penyata Kewangan apabila Entiti Bukan Lagi Usaha Berterusan (IAS 10 Peristiwa Selepas Tempoh Pelaporan) Cukai Nilai Ditambah Tanpa Bayaran Balik ke atas Bayaran Pajakan (IFRS 16 Pajakan) 14 April 2021 24 Mei 2021 Perakaunan untuk Waran yang Dikelaskan sebagai Liabiliti Kewangan pada Pengiktirafan Awal (IAS 32 Instrumen Kewangan: Pembentangan) 24 Mei 2021 12 Februari 2021 14 April 2021 24 Mac 2021 24 Mei 2021 24 Mac 2021 24 Mei 2021 2 0 2 1 Yayasan Laporan Kewangan 122 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) OBJEKTIF KELUARAN YANG DIHASILKAN No.
Tajuk Keputusan Agenda Tentatif IFRIC Surat komen dihantar pada KEPUTUSAN YANG DIKEHENDAKI Pematuhan penuh terhadap proses wajar tepat pada masanya.
PENUNJUK PRESTASI Tarikh Terbitan Tarikh Akhir Komen 18 19 20 21 Manfaat Ekonomi daripada Penggunaan Ladang Angin (IFRS 16 Pajakan) 16 Ogos 2021 17 Jun 2021 16 Ogos 2021 Urus Niaga TLTRO III (IFRS 9 Instrumen Kewangan dan IAS 20 Perakaunan untuk Geran Kerajaan dan Pendedahan Bantuan Kerajaan) 16 Ogos 2021 Tunai Diterima melalui Pindahan Elektronik sebagai Penyelesaian Aset Kewangan (IFRS 9 Instrumen Kewangan) 25 November 2021 Deposit Permintaan dengan Sekatan Penggunaan (IAS 7 Penyata Aliran Tunai) 25 November 2021 17 Jun 2021 16 Ogos 2021 23 September 2021 25 November 2021 23 September 2021 25 November 2021 (2) Untuk mengambil bahagian dan menyumbang kepada proses penetapan piawaian perakaunan IASB dalam membangunkan satu set piawaian pelaporan kewangan berkualiti tinggi yang diterima global untuk kegunaan antarabangsa (sambungan).
Pencapaian KPI (%) PRESTASI SEBENAR Surat maklum balas kepada IASB, IFRIC dan IFRSF telah dihantar tepat pada masanya selepas proses perundingan dengan konstituen kami.

Semua draf pernyataan oleh IASB, IFRIC dan IFRSF telah diterbitkan tepat pada masanya untuk pendedahan awam di Malaysia.

100% Surat maklum balas kepada IASB, IFRIC dan IFRSF telah dihantar tepat pada masanya selepas proses perundingan dengan konstituen kami.
KPI keseluruhan (%) 100% 100% 123 Yayasan Laporan Kewangan 2 0 2 1 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) KEPUTUSAN YANG DIKEHENDAKI PENUNJUK PRESTASI Memastikan suara Malaysia didengari dan untuk mempengaruhi isu yang relevan kepada Malaysia.

Pembentangan / penyertaan dalam mesyuarat atau forum antarabangsa / serantau.

PRESTASI SEBENAR Tahap kerjasama yang tinggi dicapai dan kehadiran di mata dunia telah dipertingkatkan.
OBJEKTIF KELUARAN YANG DIHASILKAN (3) Untuk bekerjasama dengan penetap piawaian nasional lain bagi pembangunan piawaian pelaporan kewangan yang diterima global untuk kegunaan antarabangsa.

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Penyertaan dalam peristiwa penetapan piawaian antarabangsa Tarikh Peristiwa Keterangan Ringkas Mesyuarat Kumpulan Pelaksanaan SME (SMEIG) IASB SMEIG adalah kumpulan yang ditubuhkan oleh IASB dan mempunyai dua tanggungjawab utama, iaitu untuk mempertimbangkan soalan pelaksanaan dan aplikasi Piawaian IFRS untuk SME; dan mengesyorkan cadangan kepada IASB tentang perlunya untuk meminda Piawaian IFRS untuk SME.
Pengarah Eksekutif MASB, Puan Tan Bee Leng telah dilantik semula sebagai ahli SMEIG berkuat kuasa pada 1 Julai 2019 selama tiga tahun, untuk penggal kedua berturut-turut.

Mesyuarat SMEIG IASB telah diadakan pada tarikh berikut dan topik yang dibincangkan adalah: 4-5 Februari 2021 – melalui Persidangan Video ● Bahagian A—Soalan strategik dan umum: 9 September 2021 – melalui Persidangan Video - - Pendekatan dan prinsip penjajaran; dan Bila hendak mempertimbangkan penjajaran.
● Kemas kini mengenai kerja yang dimuktamadkan: - Jangkauan luar dengan penyedia ● Kemas kini mengenai topik: - - Rangka Kerja Konseptual; dan Instrumen Kewangan.
● Penjajaran dengan IFRS 16 Pajakan; ● Penjajaran dengan IAS 19 Manfaat Pekerja; ● Pemudahan bagi pengukuran kewajipan manfaat ditentukan; ● Kemas kini beberapa bahagian Piawaian IFRS untuk SME untuk pindaan kepada Piawaian IFRS dan Interpretasi IFRIC; ● Penjajaran dengan IFRS 14 Akaun Penundaan Kawal Selia; dan ● Anak syarikat tanpa Kebertanggungjawaban Awam.
ini, Puan Tan telah mengambil kesempatan untuk Dalam mesyuarat isu berkenaan menyuarakan pandangan MASB mengenai beberapa perakaunan untuk SME, termasuk Rangka Kerja Konseptual, Pajakan dan Tanaman Penghasil.

2 0 2 1 Yayasan Laporan Kewangan 124 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) OBJEKTIF KELUARAN YANG DIHASILKAN (3) Untuk bekerjasama dengan penetap piawaian nasional lain bagi pembangunan piawaian pelaporan kewangan yang diterima global untuk kegunaan antarabangsa (sambungan).
Tarikh Peristiwa Keterangan Ringkas Mesyuarat Majlis Penasihat IFRS Majlis Penasihat adalah badan penasihat strategik rasmi kepada Pemegang Amanah Yayasan IFRS (IFRSF), IASB dan Lembaga Piawaian Kelestarian Antarabangsa (ISSB).

Fokusnya adalah untuk memberikan sokongan dan nasihat strategik kepada IFRSF.

MASB diwakili oleh Puan Tan Bee Leng yang telah dilantik sebagai wakil individu MASB ke Majlis Penasihat IFRS, berkuat kuasa 1 Januari 2020 untuk tempoh tiga tahun.
Sepanjang tahun ini, mesyuarat membincangkan kemas kini mengenai aktiviti Pemegang Amanah dan IASB.

Topik yang dibincangkan termasuk mengenai perancangan pasca COVID-19, pelaporan berkaitan kelestarian, Perundingan Agenda Ketiga IASB, dan maklum balas daripada mesyuarat yang terdahulu.
Puan Tan Bee Leng telah menyertai kesemua lima mesyuarat yang diadakan secara maya pada tarikh berikut: KEPUTUSAN YANG DIKEHENDAKI PENUNJUK PRESTASI PRESTASI SEBENAR Memastikan suara Malaysia didengari dan untuk mempengaruhi isu yang relevan kepada Malaysia.

Pembentangan / penyertaan dalam mesyuarat atau forum antarabangsa / serantau.

Tahap kerjasama yang tinggi dicapai dan kehadiran di mata dunia telah dipertingkatkan.
● 23 Februari 2021 ● 13 April 2021 ● 11 Mei 2021 ● 13 September 2021 ● 10 November 2021 Institut Kewangan dan Perakaunan Awam Berkanun (CIPFA) – Mesyuarat Kumpulan Penasihat Teknikal (TAG) Pelaporan Kewangan Antarabangsa Untuk Organisasi Bukan-Untung (IFR4NPO) TAG IFR4NPO yang dipengerusikan oleh CIPFA terdiri daripada ahli yang dicalonkan oleh penetap piawaian nasional (NSS) dan ahli ini berkhidmat secara sukarela dalam kapasiti individu.
Peranan TAG IFR4NPO dalam pembangunan panduan laporan kewangan bukan mandatori yang diaplikasikan di peringkat antarabangsa untuk Organisasi Bukan-Untung (NPO) adalah untuk menyediakan forum di mana Sekretariat TAG IFR4NPO dapat merujuk kepada individu berpengalaman daripada NSS, tentang pendekatan keseluruhan, dan isu teknikal utama yang ditangani dalam pembangunan panduan pelaporan kewangan antarabangsa yang berkualiti tinggi untuk NPO.
Dalam membangunkan panduan pelaporan kewangan bagi NPO, TAG IFR4NPO telah mengadakan empat mesyuarat untuk membincangkan pembangunan draf Kertas Perundingan.

125 Yayasan Laporan Kewangan 2 0 2 1 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) OBJEKTIF KELUARAN YANG DIHASILKAN (3) Untuk bekerjasama dengan penetap piawaian nasional lain bagi pembangunan piawaian pelaporan kewangan yang diterima global untuk kegunaan antarabangsa (sambungan).
Tarikh Peristiwa Keterangan Ringkas Mesyuarat ini diadakan secara maya pada: ● 3 Mac 2021 ● 8 September 2021 ● 5 Oktober 2021 ● 1 Disember 2021 KEPUTUSAN YANG DIKEHENDAKI PENUNJUK PRESTASI PRESTASI SEBENAR Memastikan suara Malaysia didengari dan untuk mempengaruhi isu yang relevan kepada Malaysia.

Pembentangan / penyertaan dalam mesyuarat atau forum antarabangsa / serantau.

Tahap kerjasama yang tinggi dicapai dan kehadiran di mata dunia telah dipertingkatkan.
Puan Tan Bee Leng telah dicalonkan oleh MASB untuk berkhidmat sebagai ahli TAG IFR4NPO.

Beliau telah menghadiri kesemua mesyuarat di atas.

8-9 Mac 2021 Mesyuarat Forum Penetap Piawaian Perakaunan Antarabangsa (IFASS) – melalui Mesyuarat Secara Maya IFASS merupakan rangkaian NSS tidak formal dari serata dunia dan organisasi lain yang mempunyai penglibatan rapat dalam isu pelaporan kewangan.
IFASS menyediakan platform bagi NSS dan pihak berkepentingan yang berminat untuk membincangkan hal berkaitan kepentingan bersama, termasuk perkembangan Piawaian IFRS.
Mesyuarat secara maya telah disertai oleh NSS daripada 33 buah negara dan berikut adalah topik yang dibincangkan sepanjang mesyuarat secara maya selama dua hari: ● Inisiatif EFRAG mengenai Pelaporan Bukan Kewangan; ● Inisiatif Pendedahan – Anak Syarikat yang merupakan SME; ● Usaha Berterusan; ● Penyata Kewangan Berasingan; ● Masa Depan Pelaporan Korporat; ● Semakan Pasca Pelaksanaan IFRS 10, IFRS 11 dan IFRS 12; ● Kemas kini Projek IFR4NPO; ● Perundingan Agenda; dan ● Kombinasi Perniagaan di bawah Kawalan Sepunya.
MASB telah diwakili oleh mantan Pengerusi, Encik Mohamed Raslan Abdul Rahman; Puan Tan Bee Leng; Penolong Pengarah Bersekutu, Puan Nadiah Ismail; dan Pengurus Teknikal, Puan Cathrine Su dan Encik Mohd Nazi Mat Yusoff.
2 0 2 1 Yayasan Laporan Kewangan 126 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) OBJEKTIF KELUARAN YANG DIHASILKAN (3) Untuk bekerjasama dengan penetap piawaian nasional lain bagi pembangunan piawaian pelaporan kewangan yang diterima global untuk kegunaan antarabangsa (sambungan).
Tarikh Peristiwa Keterangan Ringkas 29-30 September 2021 – melalui Mesyuarat Secara Maya Berikut adalah agenda mesyuarat yang telah diadakan selama dua hari: ● Mesej daripada Pengerusi IASB dan maklum balas terhadap soalan ahli IFASS; ● Pendedahan berkaitan iklim; ● Aset kawal selia dan liabiliti kawal selia – Pandangan tentang draf pendedahan KEPUTUSAN YANG DIKEHENDAKI PENUNJUK PRESTASI PRESTASI SEBENAR Memastikan suara Malaysia didengari dan untuk mempengaruhi isu yang relevan kepada Malaysia.
Pembentangan / penyertaan dalam mesyuarat atau forum antarabangsa / serantau.

Tahap kerjasama yang tinggi dicapai dan kehadiran di mata dunia telah dipertingkatkan.

IASB; ● Kemas kini IPSASB ● Kemas kini Projek IFR4NPO; ● Kaedah perakaunan ekuiti; ● Anggaran dan anggaran perakaunan; ● Isu berkaitan penyata kewangan berasingan; dan ● Aset Tak Ketara.

MASB telah diwakili oleh Puan Tan Bee Leng, Puan Nadiah Ismail dan Puan Cathrine Su.
Dalam mesyuarat ini, Puan Tan telah mengetuai perbincangan sub-kumpulan tentang Aset Tak Ketara.

17-18 Mei 2021 Mesyuarat Kumpulan Ekonomi Sedang Meningkat Naik (EEG) IASB ke-21 – melalui Mesyuarat Secara Maya EEG IASB telah ditubuhkan di bawah seliaan Pemegang Amanah IFRSF, dengan tujuan untuk merangsang penyertaan ekonomi sedang meningkat naik dalam pembangunan Piawaian IFRS.

telah mengadakan mesyuarat setengah EEG tahunan ke-21 pada 17-18 Mei 2021.
Delegasi termasuk Ahli Lembaga IASB, Encik Tadeu Cendon (Pengerusi EEG), Dr. Jianqiao Lu dan Encik Bruce Mackenzie; Staf Teknikal IASB, Encik Fred Nieto dan Cik Roberto Ravelli serta delegasi dari Arab Saudi, Afrika Selatan, Argentina, Brazil, China, India, Indonesia, Korea Selatan, Malaysia, Mexico, Rusia, dan Turki.
Mesyuarat ini telah membincangkan perkara berikut: ● Aktiviti Kawal Selia Kadar; ● Projek Strategi dan Tadbir Urus: kemas kini mengenai pelaporan kelestarian; ● Projek Strategi dan Tadbir Urus: Perundingan Agenda Ketiga; ● Kombinasi Perniagaan di bawah Kawalan Sepunya; 127 Yayasan Laporan Kewangan 2 0 2 1 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) KEPUTUSAN YANG DIKEHENDAKI PENUNJUK PRESTASI PRESTASI SEBENAR Memastikan suara Malaysia didengari dan untuk mempengaruhi isu yang relevan kepada Malaysia.
Pembentangan / penyertaan dalam mesyuarat atau forum antarabangsa / serantau.

Tahap kerjasama yang tinggi dicapai dan kehadiran di mata dunia telah dipertingkatkan.

OBJEKTIF KELUARAN YANG DIHASILKAN (3) Untuk bekerjasama dengan penetap piawaian nasional lain bagi pembangunan piawaian pelaporan kewangan yang diterima global untuk kegunaan antarabangsa (sambungan).
Tarikh Peristiwa Keterangan Ringkas ● Keputusan agenda: Jawatankuasa Intrepretasi IFRS; ● Semakan Piawaian IFRS untuk SME; ● Mengaplikasi IAS 12 Cukai Pendapatan; dan ● Kemas kini mengenai aktiviti IASB.

MASB telah diwakili oleh Puan Tan Bee Leng dan Pengarah Projek, Puan Patricia McBride.
Dalam mesyuarat ini, Puan Tan telah menyuarakan tentang keperluan untuk meningkatkan tahap fokus terhadap penyelenggaraan dan aplikasi konsisten, dan seterusnya mengurangkan tahap fokus terhadap Piawaian IFRS baharu dan pindaan utama kepada Piawaian IFRS kerana pihak berkepentingan memerlukan tempoh bertenang.

Beliau juga berkongsi tentang keutamaan MASB terhadap isu pelaporan kewangan yang boleh tahun 2022-2026.
IASB ke dalam pelan kerja bagi dimasukkan oleh Puan McBride telah membentangkan pandangan MASB tentang projek aktiviti kawal selia kadar.

2-3 Disember 2021 Mesyuarat EEG IASB ke-22 – melalui Mesyuarat Secara Maya Mesyuarat EEG ke-22 telah diadakan secara maya pada 2-3 Disember 2021.
Mesyuarat telah dihadiri oleh delegasi termasuk Ahli Lembaga IASB, Encik Tadeu Cendon (Pengerusi EEG), Dr. Jianqiao Lu dan Encik Bruce Mackenzie; Staf Teknikal IASB, Cik Roberto Ravelli; serta delegasi dari Afrika Selatan, Arab Saudi, Argentina, Brazil, China, India, Indonesia, Korea Selatan, Malaysia, Mexico, Rusia, dan Turki.
Topik berikut telah dibincangkan dalam mesyuarat tersebut: ● Inisiatif Pendedahan—Anak Syarikat tanpa Kebertanggungjawaban Awam: Pendedahan; ● Kaedah Ekuiti; ● Pelaporan berkaitan Kelestarian; ● Semakan Pasca Pelaksanaan IFRS 9—Pengelasan dan Pengukuran (PIR); dan ● Kemas kini mengenai aktiviti IASB.

MASB telah diwakili oleh Puan Tan Bee Leng.


Dalam mesyuarat ini, Puan Tan telah membentangkan komen MASB tentang Inisiatif Pendedahan dan projek PIR serta membangkitkan beberapa isu aplikasi mengenai perakaunan kaedah ekuiti yang dihadapi oleh pihak berkepentingan di Malaysia.
2 0 2 1 Yayasan Laporan Kewangan 128 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) OBJEKTIF KELUARAN YANG DIHASILKAN (3) Untuk bekerjasama dengan penetap piawaian nasional lain bagi pembangunan piawaian pelaporan kewangan yang diterima global untuk kegunaan antarabangsa (sambungan).
Tarikh Peristiwa Keterangan Ringkas 12 Julai 2021 EEG IASB – Mesyuarat Khas Mesyuarat ini telah membincangkan perkara berikut: ● Inisiatif Pendedahan—Semakan Bersasar Pendedahan peringkat Piawaian; – melalui Mesyuarat Secara Maya dan ● Komentar Pengurusan.

KEPUTUSAN YANG DIKEHENDAKI PENUNJUK PRESTASI PRESTASI SEBENAR Memastikan suara Malaysia didengari dan untuk mempengaruhi isu yang relevan kepada Malaysia.

Pembentangan / penyertaan dalam mesyuarat atau forum antarabangsa / serantau.
Tahap kerjasama yang tinggi dicapai dan kehadiran di mata dunia telah dipertingkatkan.

MASB telah diwakili oleh Ahli Lembaga, Encik Lee Kong Weng dan Puan Tan Bee Leng.

27-28 September 2021 Mesyuarat Penetap Piawaian Sedunia (WSS) IASB telah menganjurkan Mesyuarat WSS pada setiap tahun untuk penetap piawaian pelaporan kewangan sedunia.

– melalui Persidangan Secara Maya Mesyuarat itu memberi peluang kepada NSS untuk mendapatkan kemas kini dan membincangkan aktiviti IFRSF.
Berikut adalah topik yang dibincangkan semasa mesyuarat dua hari tersebut: ● Soal Jawab tentang pelaporan kelestarian; ● Bagaimana pandemik telah mengubah libat urus pihak berkepentingan?

; ● Perundingan Agenda: apakah seterusnya?


; ● Anak Syarikat tanpa Kebertanggungjawaban Awam: Pendedahan; ● Keperluan Pendedahan dalam Piawaian IFRS – Pendekatan Rintis; ● Semakan Pasca Pelaksanaan IFRS 9—Pengelasan dan Pengukurun; ● Soal Jawab tentang Kemas kini IASB dan Kemas kini IFRIC; dan ● Ke arah Penyata Amalan Komentar Pengurusan dipinda.

MASB Puan Tan Bee Leng.


telah diwakili oleh Pengerusi, Datuk Mohd Nasir Ahmad dan 129 Yayasan Laporan Kewangan 2 0 2 1 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) OBJEKTIF KELUARAN YANG DIHASILKAN (3) Untuk bekerjasama dengan penetap piawaian nasional lain bagi pembangunan piawaian pelaporan kewangan yang diterima global untuk kegunaan antarabangsa (sambungan).
Tarikh Peristiwa Keterangan Ringkas 3-4 November 2021 Forum Penyelidikan IASB 2021 – melalui Mesyuarat Secara Maya IASB bersama jurnal akademik, Perakaunan dan Kewangan, telah menganjurkan Forum Penyelidikan IASB 2021.

Forum ini diadakan untuk menggalakkan perbincangan antara ahli akademik dan bukan akademik, termasuk penetap piawaian, pelabur, pengawal selia, juruaudit dan penyedia penyata kewangan.
Berikut adalah agenda Forum yang telah diadakan selama dua hari: KEPUTUSAN YANG DIKEHENDAKI PENUNJUK PRESTASI PRESTASI SEBENAR Memastikan suara Malaysia didengari dan untuk mempengaruhi isu yang relevan kepada Malaysia.

Pembentangan / penyertaan dalam mesyuarat atau forum antarabangsa / serantau.

Tahap kerjasama yang tinggi dicapai dan kehadiran di mata dunia telah dipertingkatkan.
● Kos Pelaksanaan IFRS 9 di China; ● Mengurus ketelusan: Adakah penerimaan pakai IFRS dan Inisiatif Pelaporan Global (GRI) memberi impak kepada kefahaman laporan korporat oleh syarikat tersenarai China?

; ● Adakah Piawaian Perakaunan Australia AASB 6 Eksplorasi dan Penilaian Sumber Mineral masih menepati tujuan?

; ● Adakah firma pemeroleh mencapai objektif penggabungan dan perolehan: Bukti dari Jepun?
; ● Impak penerimaan pakai IFRS terhadap kaitan nilai maklumat perakaunan di Arab Saudi; ● Kebergunaan keputusan piawaian perakaunan IFRS untuk SME: Bukti kualitatif dari Sri Lanka; ● Adakah IFRS bahasa yang ‘dipercayai’ bagi keputusan kredit firma swasta?

Analisis perbezaan negara pada perspektif pengguna; ● Apakah yang mempengaruhi pelaksanaan IFRS untuk SME?

Kes Brazil; dan ● Memperbaiki perolehan sesaham cair: mengiktiraf kesan pencairan opsyen saham pekerja.
MASB telah diwakili oleh Puan Tan Bee Leng.

2 0 2 1 Yayasan Laporan Kewangan 130 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) KEPUTUSAN YANG DIKEHENDAKI PENUNJUK PRESTASI PRESTASI SEBENAR Memastikan suara Malaysia didengari dan untuk mempengaruhi isu yang relevan kepada Malaysia.

Pembentangan / penyertaan dalam mesyuarat atau forum antarabangsa / serantau.

Tahap kerjasama yang tinggi dicapai dan kehadiran di mata dunia telah dipertingkatkan.
OBJEKTIF KELUARAN YANG DIHASILKAN (3) Untuk bekerjasama dengan penetap piawaian nasional lain bagi pembangunan piawaian pelaporan kewangan yang diterima global untuk kegunaan antarabangsa (sambungan).
Tarikh Peristiwa Keterangan Ringkas 30 November 2021 Mesyuarat Kumpulan Perundingan Kewangan Islam IASB (IFCG) – melalui Mesyuarat Secara Maya IFCG yang dahulu dikenali sebagai Kumpulan Perundingan Instrumen dan Urus Niaga Patuh Syariah telah ditubuhkan pada tahun 2013 oleh IASB susulan Perundingan Agenda 2011.

IFCG dipengerusikan oleh Dato’ Mohammad Faiz Azmi dan dipengerusikan bersama Encik Bruce Mackenzie, Ahli Lembaga IASB.
Objektif IFCG adalah untuk membantu IASB dengan perkara berkaitan kewangan Islam, dengan memberi tumpuan kepada cabaran yang mungkin timbul dalam aplikasi Piawaian IFRS ke atas urus niaga kewangan Islam.

Mesyuarat IFCG telah dihadiri delegasi dari Arab Saudi, Bahrain, Emiriah Arab Bersatu, Indonesia, Malaysia, Pakistan, Turki, serta wakil daripada Organisasi Perakaunan dan Pengauditan bagi Institusi Kewangan Islam (AAOIFI).
Berikut adalah perkara yang dibincangkan: ● Semakan Pasca Pelaksanaan IFRS 9—Pengelasan dan Pengukuran; ● IFRS 17 Kontrak Insurans dan Takaful; dan ● Kemas kini teknikal IASB.

MASB telah diwakili oleh Datuk Mohd Nasir Ahmad.

Turut hadir sebagai pemerhati adalah Ahli Lembaga Pengarah, Encik Chan Hooi Lam dan Penasihat Teknikal, Encik Angus Thomson.
10 Disember 2021 Forum Penasihat Piawaian Perakaunan (ASAF) IASB – melalui Persidangan Video Objektif ASAF adalah untuk menyediakan forum penasihat di mana ahlinya boleh memberi sumbangan yang membina ke arah mencapai matlamat IASB untuk membangunkan piawaian perakaunan berkualiti tinggi yang diterima global.

ASAF terdiri daripada 12 ahli tidak mengundi, yang diwakili 12 individu, termasuk Pengerusi.

Pengerusi atau Naib Pengerusi IASB bertindak sebagai Pengerusi ASAF.
Puan Tan Bee Leng telah mewakili Kumpulan Penetap Piawaian Asia-Oseania (AOSSG) dalam ASAF yang diadakan pada 10 Disember 2021 dan telah membentangkan maklum balas awal ahli AOSSG berkenaan Draf Pendedahan IASB ED/2021/7 Anak Syarikat tanpa Kebertanggungjawaban Awam: Pendedahan.
131 Yayasan Laporan Kewangan 2 0 2 1 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) KEPUTUSAN YANG DIKEHENDAKI PENUNJUK PRESTASI PRESTASI SEBENAR Memastikan suara Malaysia didengari dan untuk mempengaruhi isu yang relevan kepada Malaysia.

Pembentangan / penyertaan dalam mesyuarat atau forum antarabangsa / serantau.

Tahap kerjasama yang tinggi dicapai dan kehadiran di mata dunia telah dipertingkatkan.
OBJEKTIF KELUARAN YANG DIHASILKAN (3) Untuk bekerjasama dengan penetap piawaian nasional lain bagi pembangunan piawaian pelaporan kewangan yang diterima global untuk kegunaan antarabangsa (sambungan).

Kumpulan Penetap Piawaian Asia-Oseania (AOSSG) AOSSG merupakan perkumpulan penetap piawaian perakaunan di rantau Asia-Oseania.
Kumpulan ini telah ditubuhkan bagi membincangkan isu dan berkongsi pengalaman dalam penerimaan pakai Piawaian IFRS dan untuk menyumbang kepada pembangunan piawaian perakaunan global yang berkualiti tinggi.
Mesyuarat Jawatankuasa Penasihat Pengerusi (CAC) AOSSG MASB menyertai Mesyuarat CAC AOSSG yang diadakan secara berkala untuk membantu Pengerusi dan Naib Pengerusi AOSSG dalam melaksanakan tugas mereka, termasuk: ● merancang dan menyelaras aktiviti AOSSG demi mengekalkan kesinambungan operasi aktiviti AOSSG, termasuk mesyuarat; ● bertukar maklumat tentang aktiviti Kumpulan Kerja AOSSG, termasuk memberikan input dan hala tuju pertimbangan Kumpulan Kerja pada peringkat awal; ● menyatukan pandangan di kalangan ahli AOSSG mengenai topik tertentu, dan berkomunikasi dengan pihak IASB dan Pemegang Amanah IFRSF mengenai perkara yang bukan tertakluk di bawah Kumpulan Kerja; dan ● bertukar pandangan tentang strategi komunikasi AOSSG.
Keahlian CAC AOSSG terdiri daripada Sri Lanka (Pengerusi), Pakistan (Naib Pengerusi), Australia, China, Hong Kong, India, Jepun, Korea Selatan, Malaysia, dan Singapura.
Pada tahun ini, pasukan teknikal MASB yang diketuai oleh Puan Tan Bee Leng telah menyertai lima (5) mesyuarat CAC AOSSG yang telah diadakan secara maya pada tarikh berikut: ● 19 Januari 2021 ● 16 Mac 2021 ● 20 Mei 2021 ● 29 Julai 2021 ● 22 November 2021 2 0 2 1 Yayasan Laporan Kewangan 132 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) OBJEKTIF KELUARAN YANG DIHASILKAN (3) Untuk bekerjasama dengan penetap piawaian nasional lain bagi pembangunan piawaian pelaporan kewangan yang diterima global untuk kegunaan antarabangsa (sambungan).
Mesyuarat Interim AOSSG Tarikh Tempat Keterangan Ringkas 17 September 2021 Melalui Mesyuarat Secara Maya AOSSG mengadakan mesyuarat interim sebelum mesyuarat tahunan AOSSG.

Mesyuarat ini membincangkan perkara berikut: ● Pengelasan Hutang dengan Kovenan sebagai Semasa atau Bukan Semasa; KEPUTUSAN YANG DIKEHENDAKI PENUNJUK PRESTASI PRESTASI SEBENAR Memastikan suara Malaysia didengari dan untuk mempengaruhi isu yang relevan kepada Malaysia.
Pembentangan / penyertaan dalam mesyuarat atau forum antarabangsa / serantau.

Tahap kerjasama yang tinggi dicapai dan kehadiran di mata dunia telah dipertingkatkan.

● Pengaturan Pembiayaan Pembekal; ● Usaha Berterusan; ● Cabaran dalam pelaksanaan IFRS 17 di Sri Lanka; ● Pelaksanaan IFRS 17 Kontrak Insurans – Proses yang diterima pakai oleh MASB; ● Persiapan Mesyuarat Tahunan AOSSG 2021; dan ● Kemas kini daripada bidang kuasa AOSSG.
MASB diwakili oleh Puan Tan Bee Leng, yang telah membentangkan topik ‘Pelaksanaan IFRS 17 Kontrak Insurans – Proses yang diterima pakai oleh MASB’.

Turut hadir adalah Puan Nadiah Ismail; Pengurus Kanan Teknikal, Cik Chow Hsiao Mei; dan Pengurus Teknikal, Puan Idawaty Mohd Hasan dan Puan Cathrine Su.
Mesyuarat Kumpulan Kerja AOSSG tentang IFRS untuk SME Tarikh Tempat Keterangan Ringkas Mesyuarat Kumpulan Kerja AOSSG telah diadakan untuk berbincang serta mengumpulkan pandangan tentang Draf Pendedahan IASB ED/2021/7 Anak Syarikat tanpa Kebertanggungjawaban Awam: Pendedahan.

IFRS untuk SME tentang Keahlian Kumpulan Kerja AOSSG tentang IFRS untuk SME terdiri daripada Malaysia Indonesia, Nepal, Pakistan, Sri Lanka dan Syria.
(Ketua), Bangladesh, Kemboja, 15 Oktober 2021 Melalui Mesyuarat Secara Maya 133 Yayasan Laporan Kewangan 2 0 2 1 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) OBJEKTIF KELUARAN YANG DIHASILKAN (3) Untuk bekerjasama dengan penetap piawaian nasional lain bagi pembangunan piawaian pelaporan kewangan yang diterima global untuk kegunaan antarabangsa (sambungan).
Mesyuarat Kumpulan Kerja AOSSG Tarikh Tempat Keterangan Ringkas 22 November 2021 Melalui Mesyuarat Secara Maya AOSSG telah mengadakan mesyuarat Kumpulan Kerja sebelum mesyuarat tahunan AOSSG.

Berikut adalah topik yang telah dibincangkan: KEPUTUSAN YANG DIKEHENDAKI PENUNJUK PRESTASI PRESTASI SEBENAR Memastikan suara Malaysia didengari dan untuk mempengaruhi isu yang relevan kepada Malaysia.

Pembentangan / penyertaan dalam mesyuarat atau forum antarabangsa / serantau.
Tahap kerjasama yang tinggi dicapai dan kehadiran di mata dunia telah dipertingkatkan.

● Draf Pendedahan IASB – Keperluan pendedahan dalam Piawaian IFRS (Pendekatan Rintis); ● Permohonan Maklumat – Perundingan Agenda Ketiga; dan ● Draf Pendedahan IASB – Anak Syarikat tanpa Kebertanggungjawaban Awam: Pendedahan.

MASB diwakili oleh Puan Tan Bee Leng, yang telah membentangkan topik ‘Anak Syarikat tanpa Kebertanggungjawaban Awam: Pendedahan’.
Turut hadir adalah Puan Nadiah Ismail, Puan Idawaty Mohd Hasan dan Puan Cathrine Su.

Mesyuarat Tahunan AOSSG ke-13 Tarikh Tempat Keterangan Ringkas 23-24 November 2021 Melalui Mesyuarat Secara Maya Mesyuarat Tahunan AOSSG yang ke-13 telah dianjurkan oleh Institut Akauntan Berkanun Sri Lanka (CA Sri Lanka).

Disebabkan pandemik COVID-19, mesyuarat tahunan telah diadakan secara maya.

Mesyuarat tersebut telah dihadiri oleh 21 ahli bidang kuasa AOSSG serta wakil daripada IASB.
MASB diwakili oleh Datuk Mohd Nasir Ahmad, Puan Tan Bee Leng, Encik Angus Thomson, Puan Nadiah Ismail, Puan Idawaty Mohd Hasan dan Puan Cathrine Su.
Topik teknikal berikut telah dibentangkan semasa mesyuarat ini: ● Kemas Kini Teknikal IASB dan IFRIC; ● Pengajaran daripada pelepasan peralihan dan manfaat praktikal IFRS 16 Pajakan; ● Dapatan daripada Penyelidikan tentang Aset Tak Ketara; ● Pandangan Awal ASBJ tentang ED – Keperluan Pendedahan dalam Piawaian IFRS (Pendekatan Rintis); ● Isu dalam IAS 7 Penyata Aliran Tunai; 2 0 2 1 Yayasan Laporan Kewangan 134 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) OBJEKTIF KELUARAN YANG DIHASILKAN (3) Untuk bekerjasama dengan penetap piawaian nasional lain bagi pembangunan piawaian pelaporan kewangan yang diterima global untuk kegunaan antarabangsa (sambungan).
Tarikh Tempat Keterangan Ringkas ● Kawal Selia Perakaunan – Perkembangan Antarabangsa dan Pengalaman Pakistan; ● Kewangan Islam: Penerimaan pakai IFRS 17 dan Takaful; ● Aplikasi IFRS 17 di Thailand; ● Pertimbangan Cukai Korporat di bawah IFRS 17 di Korea Selatan; ● Asas Pembubaran Piawaian Pelaporan Kewangan; dan ● Kemas kini mengenai Aplikasi IFRS di Indonesia.
Encik Angus Thomson telah membentangkan topik ‘Pengajaran daripada pelepasan peralihan dan manfaat praktikal IFRS 16 Pajakan’ bersama dengan wakil Lembaga Piawaian Perakaunan Australia, manakala Puan Nadiah Ismail membentangkan tentang ‘Kewangan Islam: Penerimaan pakai IFRS 17 dan Takaful’.

KEPUTUSAN YANG DIKEHENDAKI PENUNJUK PRESTASI PRESTASI SEBENAR Memastikan suara Malaysia didengari dan untuk mempengaruhi isu yang relevan kepada Malaysia.
Pembentangan / penyertaan dalam mesyuarat atau forum antarabangsa / serantau.

Tahap kerjasama yang tinggi dicapai dan kehadiran di mata dunia telah dipertingkatkan.

Pencapaian KPI (%) Tahap kerjasama yang tinggi dicapai dan kehadiran di mata dunia telah dipertingkatkan.

100% 135 Yayasan Laporan Kewangan 2 0 2 1 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) KEPUTUSAN YANG DIKEHENDAKI PENUNJUK PRESTASI Penglibatan tinggi dengan pihak berkepentingan.
Penglibatan yang kerap dengan pelbagai kategori pihak berkepentingan.

PRESTASI SEBENAR Penglibatan tinggi dengan pihak berkepentingan telah dicapai.

OBJEKTIF KELUARAN YANG DIHASILKAN (4) Untuk menggalakkan penggunaan dan mendapatkan pandangan tentang aplikasi piawaian perakaunan dan pelaporan kewangan dengan penglibatan dan penyebaran maklumat kepada pengguna, penyedia, juruaudit dan pihak awam.

1.
MASB telah mengambil bahagian dalam acara berikut yang dianjurkan sama ada oleh MASB atau organisasi lain sepanjang tahun 2021: Aktiviti Jangkauan Luar Tarikh Peristiwa Keterangan Ringkas 17 dan 18 Mac 2021 Jangkauan Luar Bersama IASB-MASB tentang Semakan Pasca Pelaksanaan (PIR) IFRS 10 Penyata Kewangan Disatukan, IFRS 11 Pengaturan Bersama dan IFRS 12 Pendedahan Kepentingan dalam Entiti Lain – melalui Mesyuarat Secara Maya Sebagai langkah untuk mendapatkan maklum balas berharga daripada penyedia penyata kewangan mengenai Permohonan Maklumat untuk Semakan Pasca Pelaksanaan IFRS 10 Penyata Kewangan Disatukan, IFRS 11 Pengaturan Bersama dan IFRS 12 Pendedahan Kepentingan dalam Entiti Lain, MASB telah menganjurkan sesi jangkauan luar bersama IASB.
Sesi ini telah dikendalikan oleh Ahli Lembaga IASB, Cik Ann Tarca dan Staf Teknikal IASB; Encik Filippo Poli, Cik Michelle Sansom, Encik Zhen Xu dan Cik Wenyi Zheng; dan telah dihadiri oleh wakil daripada syarikat tersenarai awam.

MASB telah diwakili oleh Ahli Lembaga, Encik Chan Hooi Lam; Puan Tan Bee Leng, Puan Nadiah Ismail, Puan Idawaty Mohd Hasan, Puan Cathrine Su dan Encik Mohd Nazi Mat Yusoff.
25 dan 29 Mac 2021 Sesi bersama penyedia SME: Semakan Piawaian IFRS untuk SME MASB telah menganjurkan dua sesi antara staf IASB dan penyedia SME untuk mendapatkan pandangan mengenai semakan komprehensif Piawaian IFRS untuk SME, terutamanya mengenai penjajaran Piawaian IFRS untuk SME dengan Piawaian IFRS.
– melalui Mesyuarat Secara Maya 9 April 2021 Jangkauan Luar Bersama IASB- MASB tentang Draf Pendedahan IASB ED/2021/1 Aset Kawal Selia dan Liabiliti Kawal Selia – melalui Persidangan Secara Maya Sesi ini telah dihadiri oleh wakil dari organisasi SME dan penyedia SME; dan Staf Teknikal IASB, Cik Michelle Sansom dan Encik Yousouf Hansye.

MASB diwakili oleh Puan Tan Bee Leng, Puan Nadiah Ismail, dan Eksekutif Teknikal Kanan, Puan Maisarah Mustapa.
MASB dengan kolaborasi bersama IASB telah menganjurkan sesi jangkauan luar tentang Draf Pendedahan IASB ED/2021/1 Aset Kawal Selia dan Liabiliti Kawal Selia bagi menyediakan platform kepada pihak berkepentingan untuk mereka berkongsi pandangan mengenai cadangan tersebut.
Jangkauan luar ini telah dihadiri oleh wakil daripada syarikat tersenarai awam dan dikendalikan oleh Ahli Lembaga IASB, Dr. Jianqiao Lu dan Cik Rika Suzuki; Staf Teknikal IASB, Encik Raghava Tirumala, Cik Mariela Isern, Encik Zicheng Wang, dan Encik Shahid Umar.

MASB telah diwakili oleh Ahli Lembaga, Encik New Kheng Chee; Puan Tan Bee Leng, Puan Patricia McBride, Puan Nadiah Ismail, Puan Cathrine Su dan Encik Mohd Nazi Mat Yusoff.
2 0 2 1 Yayasan Laporan Kewangan 136 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) KEPUTUSAN YANG DIKEHENDAKI PENUNJUK PRESTASI PRESTASI SEBENAR Penglibatan tinggi dengan pihak berkepentingan.

Penglibatan yang kerap dengan pelbagai kategori pihak berkepentingan.

Penglibatan tinggi dengan pihak berkepentingan telah dicapai.
OBJEKTIF KELUARAN YANG DIHASILKAN (4) Untuk menggalakkan penggunaan dan mendapatkan pandangan tentang aplikasi piawaian perakaunan dan pelaporan kewangan dengan penglibatan dan penyebaran maklumat kepada pengguna, penyedia, juruaudit dan pihak awam (sambungan).
Tarikh Peristiwa Keterangan Ringkas 11 Jun 2021 Sesi Libat Urus Bersama IASB tentang Draf Pendedahan IASB ED/2021/3 Keperluan Pendedahan dalam Piawaian IFRS— Pendekatan Rintis 26 Julai 2021 27 Julai 2021 – melalui Persidangan Secara Maya Forum Awam Maya: Draf Pendedahan IASB ED/2021/3 Keperluan Pendedahan dalam Piawaian IFRS— Pendekatan Rintis – melalui Persidangan Secara Maya Jangkauan Luar Maya IASB-CASC- MASB tentang Permohonan Maklumat: Perundingan Agenda Ketiga – melalui Persidangan Secara Maya MASB telah menganjurkan sesi libat urus bersama IASB mengenai Draf Pendedahan IASB ED/2021/3 Keperluan Pendedahan dalam Piawaian IFRS—Pendekatan Rintis untuk ahli kumpulan kerja MASB dan pihak berkepentingan utama yang lain.
Sesi ini libat urus Cik Kathryn Donkersley.

telah dikendalikan oleh Staf Teknikal IASB, MASB telah diwakili oleh Ahli Lembaga, Dato’ Soo Chan Fai, Encik Chan Hooi Lam, dan Encik Lee Kong Weng.

Turut hadir adalah Puan Tan Bee Leng dan pasukan teknikal MASB.

MASB telah menganjurkan forum awam maya bagi memberikan gambaran keseluruhan mengenai Draf Pendedahan IASB ED/2021/3 Keperluan Pendedahan dalam Piawaian IFRS—Pendekatan Rintis dan mendapatkan pandangan mengenai cadangan tersebut.
Forum awam ini telah dikendalikan oleh Encik Danny Tan Boon Wooi, Pengurus Projek untuk Kumpulan Kerja MASB 70 Inisiatif Pendedahan.

Forum ini dihadiri oleh 85 orang peserta, yang terdiri daripada ahli akademik, pengamal, penyedia, badan profesional dan pengawal selia.
Dengan kerjasama IASB, MASB dan Jawatankuasa Piawaian Perakaunan China (CASC) telah bersama-sama menganjurkan sesi jangkauan luar bagi menyediakan gambaran keseluruhan mengenai Permintaan Maklumat: Perundingan Agenda Ketiga dan mendapatkan pandangan daripada para peserta tentang apa yang harus menjadi keutamaan IASB dalam masa lima tahun akan datang.

Sesi jangkauan luar ini telah dikendalikan oleh Dr. Jianqiao Lu; Pengarah Teknikal IASB, Cik Nili Shah; dan Staf Teknikal IASB, Encik Rafal Markowski.
Sesi ini telah dihadiri oleh 58 orang peserta dari lapan bidang kuasa, iaitu, Australia, China, Hong Kong, India, Korea Selatan, Malaysia, Singapura dan Sri Lanka.

137 Yayasan Laporan Kewangan 2 0 2 1 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) KEPUTUSAN YANG DIKEHENDAKI PENUNJUK PRESTASI PRESTASI SEBENAR Penglibatan tinggi dengan pihak berkepentingan.

Penglibatan yang kerap dengan pelbagai kategori pihak berkepentingan.

Penglibatan tinggi dengan pihak berkepentingan telah dicapai.
OBJEKTIF KELUARAN YANG DIHASILKAN (4) Untuk menggalakkan penggunaan dan mendapatkan pandangan tentang aplikasi piawaian perakaunan dan pelaporan kewangan dengan penglibatan dan penyebaran maklumat kepada pengguna, penyedia, juruaudit dan pihak awam (sambungan).
Tarikh Peristiwa Keterangan Ringkas 21 Oktober 2021 Jangkauan Luar Maya IASB-ICAI-MASB tentang Draf Pendedahan IASB ED/2021/7 Anak Syarikat tanpa Kebertanggungjawaban Awam: Pendedahan – melalui Persidangan Secara Maya MASB dengan kolaborasi bersama IASB dan Institut Akauntan Berkanun India (ICAI) telah bersama-sama menganjurkan sesi jangkauan luar mengenai Draf Pendedahan IASB ED/2021/7 Anak Syarikat tanpa Kebertanggungjawaban Awam: Pendedahan.
Jangkauan luar maya ini memberikan gambaran keseluruhan tentang Draf Pendedahan yang mengemukakan cadangan bagi Piawaian IFRS baharu yang membenarkan anak syarikat yang layak untuk mengaplikasi keperluan pendedahan yang dikurangkan dengan keperluan pengiktirafan, pengukuran dan pembentangan dalam Piawaian IFRS.

Jangkauan luar maya ini telah dikendalikan oleh Cik Ann Tarca dan Cik Rika Suzuki; dan dihadiri oleh Staf Teknikal IASB, Encik Jan Carlo Perera dan Cik Hazirah Hasni.
Sesi ini telah dihadiri oleh 54 orang peserta dari 12 negara yang terdiri daripada ahli akademik, penetap piawaian, pengamal, penyedia dan pengawal selia.

Sesi Bersama Ahli Akademik/Pelajar Sepanjang tahun ini, MASB telah mengadakan dua sesi untuk memberi taklimat kepada pelajar universiti tempatan tentang peranan dan tanggungjawab MASB sebagai penetap piawaian perakaunan nasional serta rangka kerja pelaporan kewangan di Malaysia.
Secara keseluruhannya, seramai 215 orang pelajar telah menghadiri sesi taklimat tersebut, seperti yang diperincikan di bawah: Tarikh Peristiwa Secara Maya Keterangan Ringkas 23 Oktober 2021 Universiti Malaysia Terengganu (UMT) Taklimat ini telah disampaikan oleh Puan Nadiah Ismail dan Cik Fara Naziha Mat Khamal.

Ia telah dihadiri oleh seramai 150 orang pelajar.

15 Disember 2021 Universiti Teknologi MARA (UiTM) Taklimat ini telah disampaikan oleh Puan Maisarah Mustapa.
Ia telah dihadiri oleh seramai 65 orang pelajar.

2 0 2 1 Yayasan Laporan Kewangan 138 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) OBJEKTIF KELUARAN YANG DIHASILKAN KEPUTUSAN YANG DIKEHENDAKI PENUNJUK PRESTASI PRESTASI SEBENAR (4) Untuk menggalakkan penggunaan dan mendapatkan pandangan tentang aplikasi piawaian perakaunan dan pelaporan kewangan dengan penglibatan dan penyebaran maklumat kepada pengguna, penyedia, juruaudit dan pihak awam (sambungan).
Selain itu, MASB telah terlibat dalam dua sesi secara maya untuk menyediakan platform bagi para pelajar dan pensyarah untuk lebih memahami peranan dan tanggungjawab Jawatankuasa Aplikasi dan Pelaksanaan (MAIC) dalam ekosistem pelaporan kewangan serta proses wajarnya.

Penglibatan tinggi dengan pihak berkepentingan.

Penglibatan yang kerap dengan pelbagai kategori pihak berkepentingan.

Penglibatan tinggi dengan pihak berkepentingan telah dicapai.
Secara keseluruhannya, seramai 305 orang pelajar telah menghadiri sesi taklimat, seperti yang diperincikan di bawah: Tarikh Peristiwa Keterangan Ringkas 16 Jun 2021 Politeknik Ungku Omar Sesi ini telah dianjurkan oleh Institut Akauntan Awam Bertauliah Malaysia (MICPA) dan disampaikan oleh Pengarah Projek (Aktiviti Pelaksanaan MFRS), Encik Foo Yoke Pin.

Ia telah dihadiri oleh seramai 217 orang pelajar.

18 Disember 2021 Universiti Sains Malaysia (USM) Taklimat ini telah disampaikan oleh Encik Foo Yoke Pin.
Ia telah dihadiri oleh seramai lima orang pensyarah dan 88 orang pelajar.

Jemputan Berucap Tarikh Peristiwa Keterangan Ringkas FIDE FORUM telah menganjurkan satu sesi dialog untuk pengarah bank tentang ‘MFRS 17 Kontrak Insurans: Apa yang Harus Diketahui oleh Setiap Pengarah’.

itu Sesi Pasukan Petugas Pelaksanaan MFRS Ahli Lembaga IASB, dan pengarah.
telah disampaikan oleh Encik Darrel Scott, Pengerusi dan mantan 17 MASB telah dihadiri oleh seramai 170 orang AFA telah menganjurkan webinar untuk mengendalikan perbincangan antara pihak berkepentingan ASEAN dan IASB sebagai sebahagian daripada Perundingan Agenda Ketiga.

Cik Rika Suzuki dan Staf Teknikal IASB, Cik Rachel Knubley dan Encik Rafal Markowski, telah membentangkan perundingan IASB untuk aktiviti 2022-2026 dan rancangan kerjanya.

Webinar itu dihadiri oleh 200 orang peserta dari 16 buah negara.
MASB diwakili oleh Puan Tan Bee Leng sebagai salah seorang ahli panel.

20 April 2021 Dialog BNM-FIDE FORUM-MASB tentang MFRS 17 Kontrak Insurans – melalui Persidangan Secara Maya 5 Julai 2021 Persekutuan Akauntan ASEAN (AFA) – Perundingan Agenda Ketiga IASB – melalui Webinar 139 Yayasan Laporan Kewangan 2 0 2 1 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) KEPUTUSAN YANG DIKEHENDAKI PENUNJUK PRESTASI PRESTASI SEBENAR Penglibatan tinggi dengan pihak berkepentingan.
Penglibatan yang kerap dengan pelbagai kategori pihak berkepentingan.

Penglibatan tinggi dengan pihak berkepentingan telah dicapai.

OBJEKTIF KELUARAN YANG DIHASILKAN (4) Untuk menggalakkan penggunaan dan mendapatkan pandangan tentang aplikasi piawaian perakaunan dan pelaporan kewangan dengan penglibatan dan penyebaran maklumat kepada pengguna, penyedia, juruaudit dan pihak awam (sambungan).
Tarikh Peristiwa Keterangan Ringkas 27 Oktober 2021 Persidangan Kewangan Islam 2021 Sekretariat MASB telah dijemput untuk menjadi salah seorang penceramah pada Persidangan Kewangan Islam 2021 bertemakan ‘Kewangan Islam: Perkembangan Terkini dan Pemacu Pertumbuhan dalam Dunia Pasca Pandemik’, anjuran Institut Akauntan Malaysia (MIA).

MASB telah diwakili oleh Puan Nadiah Ismail, yang membentangkan ‘Kemas kini Pelaporan Kewangan bagi Urus Niaga Kewangan Islam’.
Sekretariat MASB telah dijemput untuk berucap di Forum Piawaian Perakaunan SAFA 2021 bertemakan ‘Cabaran dalam Pelaporan Kewangan dan Hala Tuju Ke Hadapan’, yang dihoskan oleh CA Sri Lanka.

Encik Angus Thomson dan Puan Nadiah Ismail telah membentangkan topik ‘Kewangan Islam bagi IFRS 9 dan IFRS 17’.

Forum ini telah dihadiri seramai 150 orang peserta.
– melalui Persidangan Secara Maya Forum Piawaian Perakaunan Persekutuan Akauntan Asia Selatan (SAFA) 2021 – melalui Persidangan Secara Maya 8 Disember 2021 Artikel Teknikal Pada tahun ini, tiga artikel telah diterbitkan oleh MASB.

Butiran artikel tersebut adalah seperti berikut: Tarikh Tajuk Diterbitkan di 18 Jun 2021 Pendedahan Kewangan Berkaitan Iklim (CRFD) – bersedia atau tidak?
Laman web MASB 18 Jun 2021 3 November 2021 Memahami andaian yang digunakan dalam menentukan aliran tunai dijangka masa depan untuk pengujian rosot nilai ladang kelapa sawit Laman web MASB Apakah yang menyebabkan juruaudit anda berjaga pada waktu malam?
Laman web MASB Pencapaian KPI (%) Penglibatan tinggi dengan pihak berkepentingan telah dicapai: Mengadakan tiga belas forum awam [Sasaran: empat] Mengadakan empat sesi bersama ahli akademik / pelajar [Sasaran: dua] Menerbitkan tiga artikel teknikal [Sasaran: empat] KPI keseluruhan (%) 100% 100% 75% 91.67% 2 0 2 1 Yayasan Laporan Kewangan 140 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) KEPUTUSAN YANG DIKEHENDAKI PENUNJUK PRESTASI Memastikan kehadiran di mata dunia dalam bidang nic.
Pembentangan / penglibatan dalam mesyuarat atau forum antarabangsa / serantau dalam bidang kewangan Islam.

PRESTASI SEBENAR Kehadiran di mata dunia dalam bidang nic telah dicapai.

OBJEKTIF (5) Untuk menggalakkan dan menyokong kajian dalam bidang pelaporan kewangan, khasnya bagi pasaran yang sedang meningkat naik dan pasaran Islam.
KELUARAN YANG DIHASILKAN (a) MASB sebagai Ketua Negara bagi Kumpulan Kerja AOSSG tentang Pelaporan Kewangan berkaitan Kewangan Islam untuk memberi ulasan ke atas draf pernyataan IASB daripada perspektif kewangan Islam.

● Tiada surat komen dihantar ke IASB Walau bagaimanapun, MASB telah membuat pembentangan di Mesyuarat Tahunan AOSSG ke-13 tentang topik, ‘Kewangan Islam: Penerimaan pakai IFRS 17 dan Takaful’.

Butiran mengenai mesyuarat boleh didapati di Objektif (3) dalam Laporan ini.
(b) Untuk mengambil bahagian dalam Kumpulan Perundingan Kewangan Islam (IFCG) IASB tentang untuk menyampaikan pandangan Malaysia.

Mesyuarat IFCG diadakan secara maya pada 30 November 2021 dan MASB telah diwakili oleh Datuk Mohd Nasir Ahmad.

Butiran mengenai mesyuarat tersebut boleh didapati di Objektif (3) dalam Laporan ini.
(c) Lain-lain: Pernyataan teknikal Islam Pada tahun ini, satu Buletin Isu telah diterbitkan tentang aplikasi MFRS 17 Kontrak Insurans ke atas Takaful diperinci seperti berikut: Tajuk Keterangan Ringkas Buletin Isu 3 Pelaporan Qard dalam Lajur Dana Takaful dalam Penyata Kewangan Entiti Takaful.
Pada Februari 2021, [draf] Buletin Isu 3 Pelaporan Qard dalam Lajur Dana Takaful dalam Penyata Kewangan Entiti Takaful telah diterbitkan secara bersasar, khususnya kepada Persatuan Takaful Malaysia untuk mendapatkan maklum balas.

Pada Jun 2021, Buletin Isu 3 Pelaporan Qard dalam Lajur Dana Takaful dalam Penyata Kewangan Entiti Takaful telah diterbitkan.

Butiran mengenai Buletin Isu 3 boleh didapati di bahagian Kerja Teknikal Sepanjang 2021 dalam Laporan Tahunan ini.
Pencapaian KPI (%) Kehadiran di mata dunia di dalam bidang nic dapat dicapai (a) MASB sebagai Ketua Negara bagi Kumpulan Kerja AOSSG tentang Pelaporan Kewangan berkaitan Kewangan Islam (b) Penyertaan dalam IFCG IASB (c) Lain-lain: Pernyataan teknikal islam KPI keseluruhan (%) 0% 100% 100% 66.67% Nota: Bagi item 5(a), skor 0% adalah kerana tiada draf pernyataan IASB yang memerlukan komen khusus daripada perspektif pelaporan kewangan Islam.
141 Yayasan Laporan Kewangan 2 0 2 1 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) KEPUTUSAN YANG DIKEHENDAKI PENUNJUK PRESTASI Menyelesaikan ketidaktentuan pasaran tentang isu perakaunan yang memberi kesan pasaran modal.

Terbitan material pendidikan; artikel teknikal, Panduan Aplikasi dan Pelaksanaan MFRS (MAIG) atau Soal Jawab.

PRESTASI SEBENAR Tiga daripada lima isu yang dipertimbangkan telah dimuktamadkan.
Kerja masih diteruskan untuk baki dua isu yang masih dalam jangka masa setahun daripada tarikh isu diterima (KPI yang ditetapkan).

OBJEKTIF (6) Untuk memantau aplikasi piawaian perakaunan diluluskan MASB.

Jawatankuasa Aplikasi dan Pelaksanaan MFRS (MAIC) KELUARAN YANG DIHASILKAN Berkuat kuasa pada 28 Januari 2019, MASB telah menubuhkan MAIC yang bertanggungjawab untuk meneliti isu berkaitan Piawaian MFRS.

Ringkasan isu yang dipertimbangkan disenaraikan di bawah: Isu Status 1.
Pengolahan perakaunan bagi wang yang diterima daripada pelabur dan dibayar kepada pemegang amanah bagi pembelian unit atau diterima daripada pemegang amanah dan dibayar kepada pelabur bagi penebusan unit dalam dana unit amanah (“akaun kutipan”) Isu dipertimbangkan dan ditutup (Rujuk Nota 1) 2.
Penyediaan penyata kewangan disatukan bagi kumpulan yang telah melupuskan satu-satunya anak syarikat pada tahun kewangan MASB 78 Penyediaan penyata kewangan disatukan bagi kumpulan yang telah melupuskan satu-satunya anak syarikatnya pada tahun kewangan telah didedahkan untuk komen awam pada bulan Februari 2021.

Isu selesai dengan penerbitan MAIG 3 Penyediaan penyata kewangan disatukan bagi kumpulan yang telah melupuskan satu-satunya anak syarikat pada tahun kewangan pada bulan Mei 2021.

3.
3.

Pengelasan deposit sekuriti pelanggan sebagai Isu dipertimbangkan dan ditutup (Rujuk Nota 2) liabiliti semasa atau liabiliti bukan semasa 4.

Kadar pertukaran yang sesuai digunakan untuk pengiraan dividen yang diisytiharkan pada tahun di mana mata wang pembentangan syarikat ialah Ringgit Malaysia, tetapi mata wang fungsian adalah selain daripada Ringgit Malaysia Masih dalam pertimbangan 5.
Pengiraan kadar dengan menggunakan kaedah input di peringkat syarikat induk dan peringkat kumpulan peratusan siap Masih dalam pertimbangan Nota: 1.

Lembaga MASB bersetuju untuk menutup isu ini memandangkan ia tidak meluas dan yang lebih pentingnya, pengolahan perakaunan yang sesuai akan ditentukan oleh corak fakta khusus yang dipersoalkan.

2.

Isu dicadangkan untuk ditutup tanpa sebarang panduan.
Perenggan 15, 19 dan 69 MFRS 101 Pembentangan Penyata Kewangan adalah jelas dalam memberi panduan kepada penyedia mengenai pengelasan sekuriti deposit pelanggan sebagai liabiliti semasa atau liabiliti bukan semasa.

2 0 2 1 Yayasan Laporan Kewangan 142 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) PRESTASI SEBENAR Tiga daripada lima isu yang dipertimbangkan telah dimuktamadkan.
Kerja masih diteruskan untuk baki dua isu yang masih dalam jangka masa setahun daripada tarikh isu diterima (KPI yang ditetapkan).

OBJEKTIF (6) Untuk memantau aplikasi piawaian perakaunan diluluskan MASB (sambungan).
KELUARAN YANG DIHASILKAN KEPUTUSAN YANG DIKEHENDAKI PENUNJUK PRESTASI Di samping MAIC, pasukan petugas khusus bagi industri terjejas akan ditubuhkan yang bertujuan untuk menyediakan platform kepada pihak berkepentingan utama bagi membincangkan isu tertentu atau pelaksanaan tentang Piawaian MFRS yang tertentu.

Pasukan petugas ini dijangka bersifat sementara.


Ringkasan Mesyuarat dan jika perlu, material pendidikan lain contohnya seperti Nota Panduan, akan diedarkan kepada Pasukan Petugas sebagai panduan berguna untuk menambahbaik ketekalan dalam pengaplikasian Piawaian MFRS yang tertentu.

Menyelesaikan ketidaktentuan pasaran tentang isu perakaunan yang memberi kesan pasaran modal.

Terbitan material pendidikan; artikel teknikal, Panduan Aplikasi dan Pelaksanaan MFRS (MAIG) atau Soal Jawab.
Pasukan Petugas MFRS 9 Instrumen Kewangan mengenai Langkah Bantuan COVID-19 (TFC-19) Pada bulan Julai 2020, sebuah pasukan petugas khas, Pasukan Petugas MFRS 9 mengenai Langkah Bantuan COVID-19 (TFC-19), telah ditubuhkan sebagai platform bagi pihak berkepentingan untuk membincangkan aplikasi MFRS 9 berikutan langkah bantuan yang dilaksanakan oleh BNM kesan daripada pandemik.
TFC-19 membincangkan dan merumuskan isu berkaitan dengan pengaplikasian dan pelaksanaan MFRS 9 kesan daripada langkah bantuan supaya dapat menambahbaik ketekalan dalam pengaplikasian MFRS 9 oleh institusi kewangan.

Pada tahun ini, TFC-19 telah mengadakan lima mesyuarat.
Sejak penubuhannya dan sehingga hari ini, TFC-19 telah menerbitkan Nota Panduan seperti berikut: Nota Panduan 1 2 3 Penjadualan dan Penstrukturan Semula (R&R) pasca moratarium pada 1 Oktober 2020 untuk pelanggan yang berdaya maju – Kemas kini maklumat dan kesan pemeringkatan – Untuk portfolio runcit R&R pasca moratarium pada 1 Oktober 2020 untuk pelanggan yang berdaya maju – Kemas kini maklumat dan kesan pemeringkatan – Untuk portfolio SME Pendedahan khusus COVID-19 – Untuk penyata kewangan tahunan bermula pada atau selepas 31 Disember 2020 Tarikh: 28 Januari 2021 (Asal) Tarikh: 10 Februari 2021 (Versi disemak) Pasukan Petugas Pelaksanaan MFRS 17 Kontrak Insurans (Pasukan Petugas MFRS 17) Pada 1 Januari 2021, Pasukan Petugas Pelaksanaan MFRS 17 (Pasukan Petugas MFRS 17) telah ditubuhkan untuk memudahkan pelaksanaan dan aplikasi MFRS 17 secara konsisten sepanjang tempoh peralihan daripada MFRS 4 Kontrak Insurans kepada MFRS 17.
Pasukan Petugas MFRS 17 membincangkan isu pelaksanaan tempatan dan memberikan cadangan kepada MASB tentang terbitan atau sebaliknya, bagi sebarang bentuk pernyataan teknikal.

Pasukan Petugas dijangka bersifat sementara dengan jangka hayat selama dua tahun, iaitu dari Januari 2021 hingga akhir 2022.
Sepanjang tahun 2021, Pasukan Petugas MFRS 17 telah mengadakan lima mesyuarat dan merumuskan isu berikut di mana Ringkasan Mesyuarat diedarkan sebagai rujukan untuk menambahbaik ketekalan dalam pengaplikasian oleh industri insurans (dan takaful): 143 Yayasan Laporan Kewangan 2 0 2 1 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) KEPUTUSAN YANG DIKEHENDAKI PENUNJUK PRESTASI Menyelesaikan ketidaktentuan pasaran tentang isu perakaunan yang memberi kesan pasaran modal.
Terbitan material pendidikan; artikel teknikal, Panduan Aplikasi dan Pelaksanaan MFRS (MAIG) atau Soal Jawab.

PRESTASI SEBENAR Tiga daripada lima isu yang dipertimbangkan telah dimuktamadkan.

Kerja masih diteruskan untuk baki dua isu yang masih dalam jangka masa setahun daripada tarikh isu diterima (KPI yang ditetapkan).

OBJEKTIF (6) Untuk memantau aplikasi piawaian perakaunan diluluskan MASB (sambungan).
KELUARAN YANG DIHASILKAN Isu Aliran tunai: Interaksi antara MFRS 17 dan MFRS lain Pengubahsuaian kontrak: Pelaksanaan hak yang termasuk dalam syarat kontrak Pengolahan aliran tunai diinsurans semula untuk kontrak yang mengambil bahagian Perbelanjaan yuran Wakalah – Perbelanjaan perolehan atau penyelenggaraan daripada perspektif Dana Takaful Pengaplikasian pelarasan risiko untuk liabiliti bagi baki perlindungan (LFRC) untuk kontrak takaful Pengolahan lebihan tidak diperuntukkan – sama ada sebagai liabiliti untuk tuntutan tertanggung (LFIC) atau LFRC Isu sempadan kontrak untuk penginsurans yang mempunyai hak unilateral untuk membatalkan polisi Komponen pelaburan untuk produk yang mengambil bahagian – menentukan komponen pelaburan yang tidak berbeza Pengaplikasian kebersamaan untuk produk yang mengambil bahagian menurut IFRS 17.B67-B68 Pengaplikasian IFRS 17.B128(c) untuk produk yang mengambil bahagian bagi perbezaan antara baki bahagian aset (‘asset share’) yang dijangka dan baki bahagian aset sebenar Pengolahan estet peninggalan (‘orphan estate’) berhubung dengan IFRS 17.B71 Pengolahan estet peninggalan sebagai LFIC atau LFRC Aliran tunai diinsurans semula dan margin perkhidmatan berkontrak (CSM) dalam produk yang mengambil bahagian Pengolahan bayaran pendahuluan bankasurans – adakah ia aliran tunai perolehan IFRS 17?
15 Pengaplikasian MFRS 17.B128(c) untuk takaful – pembentangan varians komponen bukan pelaburan dalam Dana Takaful 16 Pengiktirafan aliran tunai perolehan insurans sebagai perbelanjaan di bawah MFRS 17.59(a) 17 18 Potensi pilihan bagi pendekatan peruntukan premium dalam MFRS 17.59(a) untuk membelanjakan atau menangguhkan aliran tunai perolehan untuk tujuan pengiraan peralihan Pengiraan Komponen Pemulihan Kerugian untuk kontrak diinsurans semula dipegang yang mengalami kerugian (pengaplikasian MFRS 17.66A bersama dengan MFRS 17.B119C) 19 Penentuan unit perlindungan untuk kontrak anuiti 20 Mekanik pengurangan risiko untuk komponen kerugian 21 22 23 Komponen kerugian Perakaunan untuk varians (andaian / pengalaman) yang berkaitan dengan komponen pelaburan pada polisi penyertaan langsung yang mengaplikasi pendekatan yuran boleh ubah (VFA ) Pengolahan kos kewangan di bawah perakaunan pajakan 2 0 2 1 Yayasan Laporan Kewangan 144 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) Pencapaian KPI (%) Menyelesaikan ketidaktentuan pasaran tentang isu perakaunan yang memberi kesan pasaran modal.
1.

2.

3.

4.

5.
Pengolahan perakaunan bagi wang yang diterima daripada pelabur dan dibayar kepada pemegang amanah bagi pembelian unit atau diterima daripada pemegang amanah dan dibayar kepada pelabur bagi penebusan unit dalam dana unit amanah (“akaun kutipan”) Penyediaan penyata kewangan disatukan bagi kumpulan yang telah melupuskan satu-satunya anak syarikat pada tahun kewangan Pengelasan deposit sekuriti pelanggan sebagai liabiliti semasa atau liabiliti bukan semasa Kadar pertukaran yang sesuai digunakan untuk pengiraan dividen yang diisytiharkan pada tahun di mana mata wang pembentangan syarikat ialah Ringgit Malaysia, tetapi mata wang fungsian adalah selain daripada Ringgit Malaysia Pengiraan kadar peratusan siap dengan menggunakan kaedah input di peringkat syarikat induk dan peringkat kumpulan KPI keseluruhan % JUMLAH KPI KESELURUHAN % 100% 100% 100% 50% 50% 80.00% 96.50% 145 Yayasan Laporan Kewangan 2 0 2 1 Keputusan Penilaian Pencapaian Bagi Tahun 2021 (SPA 1/2012) PENYATA KEWANGAN Yayasan Laporan Kewangan 2 0 2 1 Yayasan Laporan Kewangan 146 PENYATA KEDUDUKAN KEWANGAN PADA 31 DISEMBER 2021 Aset bukan semasa Aset ketara Aset hak-guna Aset semasa Inventori Belum terima lain, deposit dan bayaran terdahulu Deposit di institusi kewangan Tunai dan baki di bank Jumlah aset Ekuiti Geran modal Defisit terkumpul Liabiliti semasa Liabiliti pajakan Belum bayar lain dan akruan Liabiliti bukan semasa Liabiliti pajakan Peruntukan Jumlah liabiliti Nota 2021 RM 2020 RM 147,077 333,809 480,886 214,339 507,682 722,021 97 104,702 989 92,106 17,509,476 13,222,278 304,112 17,918,387 18,399,273 103,946 13,419,319 14,141,340 9 48,000,000 45,000,000 (32,000,425) (32,096,259) 15,999,575 12,903,741 10 11 10 11 192,971 1,939,854 2,132,825 178,873 88,000 266,873 171,595 621,161 792,756 371,843 73,000 444,843 2,399,698 1,237,599 Jumlah ekuiti dan liabiliti 18,399,273 14,141,340 Nota yang dilampirkan adalah sebahagian penting daripada penyata kewangan ini.
147 Yayasan Laporan Kewangan 2 0 2 1 Yayasan Laporan Kewangan (Ditubuhkan di bawah Akta Laporan Kewangan 1997) PENYATA UNTUNG ATAU RUGI DAN PENDAPATAN KOMPREHENSIF LAIN BAGI TAHUN KEWANGAN BERAKHIR 31 DISEMBER 2021 Hasil Pendapatan lain Nota 12 13 2021 RM 2020 RM 19,380 22,604 4,048,884 3,054,251 Belanja penetapan piawaian dan aktiviti berkaitan (3,232,192) (3,209,291) Belanja penerbitan dan perkhidmatan berkaitan (156,835) (124,639) Belanja lain Lebihan/(Defisit) sebelum cukai Pencukaian (583,403) (617,853) 95,834 (874,928) - - 14 15 Lebihan/(Defisit)/Jumlah pendapatan/ (perbelanjaan) komprehensif bagi tahun kewangan 95,834 (874,928) Nota yang dilampirkan adalah sebahagian penting daripada penyata kewangan ini.
2 0 2 1 Yayasan Laporan Kewangan 148 Yayasan Laporan Kewangan (Ditubuhkan di bawah Akta Laporan Kewangan 1997) PENYATA PERUBAHAN EKUITI BAGI TAHUN KEWANGAN BERAKHIR 31 DISEMBER 2021 Geran modal RM Defisit terkumpul RM Jumlah RM Nota Pada 1 Januari 2020 42,000,000 (31,221,331) 10,778,669 Geran modal 9 3,000,000 - 3,000,000 Defisit/Jumlah perbelanjaan komprehensif bagi tahun kewangan Pada 31 Disember 2020/ 1 Januari 2021 - (874,928) (874,928) 45,000,000 (32,096,259) 12,903,741 Geran modal 9 3,000,000 - 3,000,000 Lebihan/Jumlah pendapatan komprehensif bagi tahun kewangan - 95,834 95,834 Pada 31 Disember 2021 48,000,000 (32,000,425) 15,999,575 Nota yang dilampirkan adalah sebahagian penting daripada penyata kewangan ini.
149 Yayasan Laporan Kewangan 2 0 2 1 Yayasan Laporan Kewangan (Ditubuhkan di bawah Akta Laporan Kewangan 1997) PENYATA ALIRAN TUNAI BAGI TAHUN KEWANGAN BERAKHIR 31 DISEMBER 2021 ALIRAN TUNAI DARIPADA AKTIVITI OPERASI Bayaran untuk - yuran audit - belanja pentadbiran - honorarium ahli - belanja kakitangan - penyelenggaraan premis - percetakan pernyataan teknikal - percetakan am dan alat tulis 2021 RM 2020 RM (28,000) (571,080) (14,600) (28,000) (519,628) (5,200) (2,575,220) (2,518,443) (5,279) (10,440) (83,041) (13,666) (5,064) (71,558) - kos bersama Yayasan IFRS (Nota 14) (368,992) (358,677) Deposit runcit Penerimaan daripada jualan pernyataan teknikal Pendapatan dan penerimaan lain - 19,380 2,025 4,370 30,929 26,329 Penerimaan – geran berkaitan dengan pendapatan 5,000,000 2,500,000 Aliran masuk/(keluar) tunai bersih daripada aktiviti operasi 1,364,753 (958,608) ALIRAN TUNAI DARIPADA AKTIVITI PELABURAN Pendapatan kewangan daripada deposit tetap Penempatan deposit di institusi kewangan Pembelian aset ketara Penerimaan daripada pelupusan aset ketara 334,043 432,755 (4,194,018) (2,619,856) (51,978) 3,400 (32,823) - Aliran keluar tunai bersih daripada aktiviti pelaburan (3,908,553) (2,219,924) ALIRAN TUNAI DARIPADA AKTIVITI PEMBIAYAAN Penerimaan – geran modal Pembayaran bagi liabiliti pajakan (Nota 10) Aliran masuk tunai bersih daripada aktiviti pembiayaan 3,000,000 (196,590) 2,803,410 3,000,000 (205,952) 2,794,048 LEBIHAN/(KURANGAN) BERSIH DALAM TUNAI DAN KESETARAAN TUNAI 259,610 (384,484) TUNAI DAN KESETARAAN TUNAI DIBAWA KE HADAPAN TUNAI DAN KESETARAAN TUNAI DIHANTAR KE HADAPAN (Nota A) 760,417 1,144,901 1,020,027 760,417 Nota yang dilampirkan adalah sebahagian penting daripada penyata kewangan ini.
2 0 2 1 Yayasan Laporan Kewangan 150 Yayasan Laporan Kewangan (Ditubuhkan di bawah Akta Laporan Kewangan 1997) PENYATA ALIRAN TUNAI BAGI TAHUN KEWANGAN BERAKHIR 31 DISEMBER 2021 (SAMBUNGAN) Nota kepada penyata aliran tunai A. Tunai dan kesetaraan tunai pada akhir tahun kewangan merangkumi: Deposit di institusi kewangan (Nota 8) Tunai dan baki di bank 2021 RM 2020 RM 715,915 304,112 1,020,027 656,471 103,946 760,417 Nota yang dilampirkan adalah sebahagian penting daripada penyata kewangan ini.
151 Yayasan Laporan Kewangan 2 0 2 1 Yayasan Laporan Kewangan (Ditubuhkan di bawah Akta Laporan Kewangan 1997) NOTA KEPADA PENYATA KEWANGAN – 31 DISEMBER 2021 1.
MAKLUMAT UMUM Fungsi dan kuasa Yayasan Laporan Kewangan (FRF atau Yayasan) seperti yang diperuntukkan di bawah Akta Laporan Kewangan 1997 adalah: (a) (b) untuk menyelia perjalanan fungsi oleh Lembaga Piawaian Perakaunan Malaysia (MASB atau Lembaga) di bawah Akta Laporan Kewangan 1997; dan untuk melaksanakan apa-apa fungsi lain sebagaimana yang boleh ditetapkan oleh Menteri Kewangan melalui perintah yang disiarkan dalam Warta.
Di bawah Akta Laporan Kewangan 1997, sebuah badan dengan nama MASB ditubuhkan sebagai badan penetap piawaian Yayasan, di mana fungsinya adalah penentuan dan penetapan piawaian perakaunan untuk penyediaan penyata kewangan, yang dikehendaki untuk disediakan atau diserahkan bagi mematuhi sebarang undang-undang yang ditadbirkan oleh Suruhanjaya Sekuriti Malaysia, Bank Negara Malaysia atau Pendaftar Syarikat.
Tanpa mengehadkan keluasan fungsi Yayasan seperti yang dinyatakan di atas, Yayasan hendaklah bertanggungjawab: (a) memberikan pandangannya kepada Lembaga tentang apa-apa perkara yang hendak diusahakan atau dilaksanakan oleh Lembaga berhubung dengan fungsi Lembaga di bawah Akta Laporan Kewangan 1997; (b) mengkaji semula prestasi Lembaga; dan (c) bagi segala perkiraan pembiayaan bagi operasi Lembaga, termasuk meluluskan belanjawan Lembaga.
Yayasan tidak boleh mengarahkan Lembaga untuk mengusahakan atau tidak mengusahakan sebarang projek atau kegiatan tertentu atau selainnya menyentuh perjalanan kuasa Lembaga atau pelaksanaan fungsi Lembaga di bawah Akta Laporan Kewangan 1997.

Tempat utama perniagaan terletak di: Unit 13A-1, Menara MBMR No.

1, Jalan Syed Putra 58000 Kuala Lumpur Penyata kewangan ini dibentangkan dalam Ringgit Malaysia, yang merupakan mata wang fungsian dan mata wang pembentangan.
2 0 2 1 Yayasan Laporan Kewangan 152 Yayasan Laporan Kewangan (Ditubuhkan di bawah Akta Laporan Kewangan 1997) NOTA KEPADA PENYATA KEWANGAN – 31 DISEMBER 2021 2.
DASAR PERAKAUNAN SIGNIFIKAN (a) Asas penyediaan Penyata kewangan Yayasan telah disediakan di bawah konvensyen kos sejarah (melainkan dinyatakan di dalam penyata kewangan) selaras dengan Piawaian Pelaporan Kewangan Malaysia (MFRS) terpakai yang diluluskan dan diterbitkan oleh MASB, Piawaian Pelaporan Kewangan Antarabangsa dan peruntukan Akta Laporan Kewangan 1997 di Malaysia.

(b) Aset ketara Aset ketara dinyatakan pada kos selepas ditolak susut nilai terkumpul dan sebarang kerugian rosot nilai terkumpul.
Semua aset ketara disusut nilai berdasarkan kaedah garis lurus pada kadar yang dikira untuk menghapus kira kos aset di sepanjang anggaran hayat bergunanya.

Kos berikutan diiktiraf dalam amaun dibawa aset apabila terdapat kemungkinan bahawa manfaat ekonomi masa hadapan yang berkait dengan item berkenaan akan mengalir ke Yayasan dan kosnya boleh diukur dengan sahih.

Kos pembaikan dan penyelenggaraan aset ketara diiktiraf dalam untung atau rugi seperti yang tertanggung.
Nilai sisa, hayat berguna dan kaedah susut nilai ditaksir semula pada setiap akhir tahun kewangan.

Kadar tahunan prinsipal susut nilai yang dikenakan ke atas aset ketara Yayasan adalah seperti berikut: Perabot dan kelengkapan Komputer Kenderaan Peralatan pejabat 20% 33.33% 20% 20% Untung atau rugi daripada pelupusan ditentukan dengan membandingkan penerimaan jualan dengan amaun dibawa dan dimasukkan ke dalam untung atau rugi.
(c) Inventori Inventori dinyatakan pada nilai yang lebih rendah antara kos dan nilai boleh realis bersih.

Kos ditentukan dengan menggunakan kaedah purata wajaran dan merangkumi kos asal pembelian ditambah dengan kos untuk membawa inventori ke lokasi dan keadaan semasa.

Nilai boleh realis bersih ditentukan berasaskan item demi item atau berasaskan kumpulan item yang serupa.

(d) Pajakan (i) Definisi pajakan Kontrak mungkin mengandungi kedua-dua komponen pajakan dan bukan pajakan.
Pada tarikh permulaan, Yayasan memperuntukkan pertimbangan dalam kontrak untuk setiap komponen pajakan dan bukan pajakan atas dasar harga berdiri sendiri relatif.

Sebagai manfaat praktikal, Yayasan telah memilih untuk tidak mengasingkan komponen bukan pajakan daripada komponen pajakan bagi pajakan peralatan pejabat, dan sebaliknya memperakaun pajakan tersebut sebagai komponen pajakan tunggal.
153 Yayasan Laporan Kewangan 2 0 2 1 Yayasan Laporan Kewangan (Ditubuhkan di bawah Akta Laporan Kewangan 1997) NOTA KEPADA PENYATA KEWANGAN – 31 DISEMBER 2021 2.

DASAR PERAKAUNAN SIGNIFIKAN (SAMBUNGAN) (d) Pajakan (sambungan) (ii) Pengiktirafan dan pengukuran awal Yayasan mengiktiraf aset hak-guna dan liabiliti pajakan pada tarikh permulaan pajakan.
Aset hak-guna pada mulanya diukur pada kos, yang terdiri daripada amaun permulaan liabiliti pajakan yang dilaraskan dengan sebarang bayaran pajakan yang dibuat pada atau sebelum tarikh permulaan, termasuk sebarang kos langsung permulaan yang tertanggung dan anggaran kos untuk menanggalkan dan membuang aset sandaran atau untuk memulihkan aset sandaran atau tapak di mana letaknya aset sandaran, ditolak sebarang insentif pajakan yang diterima.
Liabiliti pajakan pada mulanya diukur pada nilai semasa bayaran pajakan yang tidak dibayar pada tarikh permulaan, terdiskaun pada kadar faedah tersirat dalam pajakan atau, kadar pinjaman tambahan Yayasan, jika kadar tersirat itu tidak dapat ditentukan dengan mudah.
Secara umumnya, Yayasan menggunakan kadar pinjaman tambahan sebagai kadar diskaun, iaitu kadar yang perlu dibayar oleh Yayasan untuk meminjam dana yang diperlukan untuk mendapatkan aset yang sama nilai dengan aset hak-guna dalam persekitaran ekonomi yang sama dengan tempoh, sekuriti dan syarat yang sama.
Bayaran pajakan yang termasuk dalam pengukuran liabiliti pajakan terdiri daripada berikut, di mana relevan: ● bayaran tetap, termasuk bayaran tetap dasar ditolak sebarang insentif belum terima; ● bayaran pajakan berubah yang bergantung kepada indeks atau kadar, pada mulanya diukur menggunakan indeks atau kadar pada tarikh permulaan; ● amaun yang dijangka perlu dibayar di bawah jaminan nilai sisa; ● harga laksana sesuatu pilihan pembelian yang mana Yayasan amat pasti akan laksanakan; dan ● penalti untuk penamatan awal pajakan kecuali Yayasan amat pasti untuk tidak menamatkan kontrak pajakan awal.
(iii) Pengukuran seterusnya Aset hak-guna kemudiannya disusut nilai mengikut kaedah garis lurus ke atas mana-mana tempoh yang lebih pendek antara tempoh hayat berguna aset dan tempoh pajakan.

Anggaran hayat berguna aset hak-guna ditentukan pada asas yang sama dengan harta dan peralatan.

Di samping itu, aset hak-guna dikurangkan secara berkala oleh kerugian rosot nilai, jika ada, dan dilaraskan untuk pengukuran semula tertentu liabiliti pajakan.
Liabiliti pajakan diukur pada kos terlunas menggunakan kaedah faedah efektif.

Ia diukur semula apabila terdapat perubahan dalam bayaran pajakan masa depan yang timbul daripada perubahan indeks atau kadar, jika terdapat perubahan kepada bayaran tetap dasar pajakan, atau jika terdapat perubahan dalam anggaran Yayasan mengenai amaun yang dijangka perlu dibayar di bawah jaminan nilai sisa, atau jika Yayasan mengubah pentaksirannya tentang sama ada ia akan membuat pilihan pembelian, pelanjutan atau penamatan.
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DASAR PERAKAUNAN SIGNIFIKAN (SAMBUNGAN) (d) Pajakan (sambungan) (iii) Pengukuran seterusnya (sambungan) Apabila liabiliti pajakan diukur semula, pelarasan sepadan dibuat ke atas amaun dibawa aset hak-guna, atau direkodkan dalam untung atau rugi jika amaun dibawa aset hak-guna dikurangkan kepada sifar.
(e) Instrumen kewangan (i) Pengiktirafan dan pengukuran awal Instrumen kewangan diiktiraf dalam penyata kewangan apabila, dan hanya apabila, Yayasan menjadi pihak kepada peruntukan kontrak instrumen tersebut.

Pada pengiktirafan awal, semua aset kewangan dan liabiliti kewangan diukur pada nilai saksama ditambah dengan kos urus niaga jika aset kewangan atau liabiliti kewangan tidak diukur pada nilai saksama melalui untung atau rugi.
Untuk instrumen yang diukur pada nilai saksama melalui untung atau rugi, kos urus niaga dibelanjakan ke untung atau rugi bilamana ia tertanggung.

(ii) Penyahiktirafan instrumen kewangan Untuk tujuan penyahiktirafan, pertamanya Yayasan akan menentukan sama ada aset kewangan atau liabiliti kewangan perlu dinyahiktiraf secara keseluruhan sebagai item tunggal atau dinyahiktiraf bahagian demi bahagian daripada item tunggal atau kumpulan item yang serupa.
Aset kewangan, sama ada sebagai item tunggal atau sebagai satu bahagian, dinyahiktiraf apabila, dan hanya apabila, hak berkontrak untuk menerima aliran tunai daripada aset kewangan luput, atau apabila Yayasan memindahkan hak berkontrak untuk menerima aliran tunai daripada aset kewangan, termasuk keadaan bilamana Yayasan bertindak hanya sebagai ejen pemungut penerima pindahan, dan tidak mengekalkan risiko dan ganjaran pemilikan yang signifikan ke atas aset kewangan atau tiada penglibatan berterusan dengan aset kewangan yang dipindahkan.
Liabiliti kewangan dinyahiktiraf apabila, dan hanya apabila, ia dilunaskan secara sah, sama ada apabila obligasi yang diperinci dalam kontrak dilepaskan atau dibatalkan atau luput.

(iii) Aset kewangan Selepas pengiktirafan awal, aset kewangan dikategorikan sebagai aset kewangan pada kos terlunas.
Aset kewangan diukur pada kos terlunas apabila: (a) ia dipegang selari dengan objektif perniagaan Yayasan untuk memegang aset hanya untuk mengumpul aliran tunai berkontrak, dan (b) terma berkontrak aset kewangan menghasilkan aliran tunai pada tarikh spesifik yang semata-mata adalah bayaran prinsipal dan faedah ke atas amaun prinsipal tertunggak.

Aset kewangan adalah tertakluk kepada semakan untuk rosot nilai selaras dengan Nota 2(f).
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DASAR PERAKAUNAN SIGNIFIKAN (SAMBUNGAN) (e) Instrumen kewangan (sambungan) (iv) Liabiliti kewangan Selepas pengiktirafan awal, liabiliti kewangan diukur pada kos terlunas menggunakan kadar faedah efektif.
(v) Pengiktirafan untung dan rugi Untuk aset kewangan dan liabiliti kewangan yang dibawa pada kos terlunas, pendapatan faedah dan belanja faedah diiktiraf dalam untung atau rugi dengan menggunakan kaedah faedah efektif.

Untung atau rugi diiktiraf dalam untung atau rugi hanya apabila aset kewangan atau liabiliti kewangan dinyahiktiraf atau dirosot nilai, dan melalui proses pelunasan instrumen tersebut.
(f) Rosot nilai aset kewangan Yayasan mengaplikasi model kerugian kredit dijangka (ECL) MFRS 9 Instrumen Kewangan untuk mengiktiraf kerugian rosot nilai aset kewangan yang diukur pada kos terlunas.

Kecuali bagi perdagangan belum terima, ECL 12 bulan diiktiraf dalam untung atau rugi pada tarikh asal atau pembelian aset kewangan.
Pada akhir setiap tempoh pelaporan, Yayasan menaksir sama ada terdapat peningkatan ketara dalam risiko kredit aset kewangan sejak pengiktirafan awal atau pada akhir tempoh pelaporan sebelumnya.

Selain aset kewangan yang dianggap mempunyai gred berisiko rendah, ECL sepanjang hayat diiktiraf jika terdapat peningkatan ketara dalam risiko kredit sejak pengiktirafan awal.
Pentaksiran sama ada risiko kredit telah meningkat secara signifikan adalah berdasarkan maklumat kuantitatif dan kualitatif yang merangkumi penilaian kewangan kepercayaan kredit penghutang atau penerbit instrumen, jadual pengumuran boleh terima, kegagalan membayar dan amaun lepas tempoh, pengalaman lepas dengan penghutang, keadaan semasa dan ramalan munasabah tentang keadaan ekonomi masa hadapan.
Untuk pemudahan operasi: (a) ECL 12 bulan dikekalkan bagi aset kewangan yang mempunyai gred pelaburan yang dianggap sebagai berisiko kredit rendah, tidak kira sama ada risiko kredit telah meningkat secara signifikan atau tidak; dan (b) risiko kredit dianggap telah meningkat secara signifikan jika pembayaran tertunggak melebihi 30 hari jika tiada maklumat spesifik mengenai penghutang tersedia tanpa kos atau usaha tidak wajar.
ECL diukur menggunakan amaun wajaran kebarangkalian dan saksama yang ditentukan dengan menilai pelbagai kemungkinan yang bakal terhasil, terdiskaun untuk nilai masa wang dan mengaplikasi maklumat yang munasabah dan boleh disokong yang tersedia tanpa kos atau usaha tidak wajar pada tarikh pelaporan mengenai peristiwa lepas, keadaan semasa, dan ramalan keadaan ekonomi masa hadapan.
Apabila aset kewangan ditentukan sebagai kredit terjejas (berdasarkan bukti objektif rosot nilai), ECL sepanjang hayat akan ditentukan secara individu.

Untuk perdagangan belum terima, Yayasan telah memanfaatkan pengecualian kepada keperluan ECL 12 bulan untuk hanya mengiktiraf ECL sepanjang hayat.

ECL sepanjang hayat ditentukan pada setiap akhir tempoh pelaporan menggunakan matriks peruntukan.
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DASAR PERAKAUNAN SIGNIFIKAN (SAMBUNGAN) (g) Geran Geran modal Geran modal adalah geran yang dianugerahkan kepada Yayasan tanpa sebarang syarat dan geran tersebut dibentangkan sebagai salah satu komponen ekuiti berasingan dalam penyata kedudukan kewangan.
Geran berkaitan dengan pendapatan Geran berkaitan dengan pendapatan diiktiraf apabila terdapat jaminan munasabah bahawa geran akan diterima dan Yayasan akan mematuhi semua syarat yang terikat dengan geran.

Geran tersebut diiktiraf sebagai pendapatan lain dalam untung atau rugi secara sistematik sepanjang tempoh apabila perbelanjaan berkaitan tertanggung.

Sebarang baki yang belum diiktiraf dalam untung atau rugi diiktiraf sebagai pendapatan tertunda dalam penyata kedudukan kewangan.
(h) Peruntukan Peruntukan diiktiraf apabila Yayasan mempunyai obligasi kini (sah di sisi undang-undang atau yang konstruktif) di mana, kesan daripada peristiwa lalu, ia berkemungkinan bahawa aliran keluar sumber yang melibatkan manfaat ekonomi diperlukan untuk menyelesaikan obligasi tersebut dan anggaran sahih boleh dibuat daripada amaun tersebut.

Peruntukan disemak semula pada setiap tarikh pelaporan dan dilaraskan untuk memberi gambaran anggaran semasa terbaik.
Sekiranya tiada lagi kemungkinan bahawa aliran sumber keluar yang merangkumi manfaat ekonomi akan diperlukan untuk menyelesaikan obligasi, peruntukan tersebut akan dibalikkan.

(i) Hasil daripada kontrak dengan pelanggan Hasil mewakili jualan pernyataan teknikal dan diiktiraf pada satu masa apabila kawalan barangan dipindahkan kepada pelanggan.
Yayasan mengukur hasil daripada jualan barangan pada nilai saksama ganjaran diterima atau belum diterima, di mana kebiasaannya adalah harga invois, bersih daripada diskaun dagangan dan rebat volum yang diberikan kepada pelanggan.

(j) Pendapatan lain Pendapatan lain diiktiraf dalam penyata kewangan Yayasan mengikut asas akruan.

(k) Pembentangan perbelanjaan Bagi tujuan penyusunan maklumat kewangan, Yayasan telah mengkategorikan perbelanjaan kepada dua kategori.
Penetapan piawaian dan aktiviti berkaitan merangkumi semua aktiviti berkaitan penetapan piawaian dan fungsi sokongan yang diperlukan untuk mencapai objektif Yayasan.

Penerbitan dan perkhidmatan berkaitan termasuk pernyataan teknikal muktamad dan draf pernyataan teknikal MASB versi cetakan serta yuran royalti.

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DASAR PERAKAUNAN SIGNIFIKAN (SAMBUNGAN) (l) Pencukaian Pencukaian ke atas untung atau rugi untuk tahun kewangan merangkumi cukai semasa dan cukai tertunda.

Cukai semasa ialah amaun yang dijangka bagi cukai belum bayar ke atas untung boleh cukai bagi tahun kewangan dan diukur dengan menggunakan kadar cukai yang diwartakan pada tarikh pelaporan.
Cukai tertunda diperuntukkan menggunakan kaedah liabiliti, ke atas perbezaan sementara pada tarikh pelaporan antara asas cukai aset dan liabiliti dan amaun dibawa dalam penyata kewangan.
Pada dasarnya, liabiliti cukai tertunda diiktiraf bagi semua perbezaan sementara boleh cukai dan aset cukai tertunda diiktiraf bagi semua perbezaan sementara boleh kurang, kerugian cukai belum diguna dan kredit cukai belum diguna, setakat mana untung boleh cukai akan tersedia untuk digunakan terhadap perbezaan sementara boleh kurang, kerugian cukai belum diguna dan kredit cukai belum diguna yang boleh dimanfaatkan.
Cukai tertunda diukur pada kadar cukai yang dijangka digunakan dalam tahun kewangan apabila aset direalisasi atau liabiliti diselesaikan, berdasarkan kadar cukai yang telah diwartakan atau diwartakan secara substantif pada tarikh pelaporan.

Cukai tertunda diiktiraf dalam untung atau rugi, kecuali jika ia terhasil daripada urus niaga yang diiktiraf secara langsung dalam ekuiti, di mana dalam hal ini, cukai tertunda juga akan diiktiraf atau dikredit secara langsung dalam ekuiti.
(m) Tunai dan kesetaraan tunai Bagi tujuan pembentangan dalam penyata aliran tunai, tunai dan kesetaraan tunai merangkumi tunai dan baki di bank dan deposit yang mempunyai kematangan rendah (tiga bulan atau kurang) yang tersedia untuk ditukar kepada tunai dan tertakluk kepada risiko perubahan nilai yang tidak signifikan.

(n) Rosot nilai aset bukan kewangan Pada setiap tarikh pelaporan, Yayasan menaksir sama ada terdapat sebarang petunjuk bahawa aset telah rosot nilai.
Jika petunjuk tersebut wujud, atau apabila pentaksiran rosot nilai tahunan sesuatu aset diperlukan, Yayasan membuat anggaran amaun boleh pulih aset tersebut.

Amaun boleh pulih adalah amaun yang lebih tinggi antara nilai saksama aset ditolak kos pelupusan aset dan nilai sedang digunakan.

Nilai saksama ditolak kos pelupusan ialah amaun yang boleh didapati daripada hasil penjualan aset pada urus niaga tulus.
Nilai sedang digunakan ialah nilai semasa bagi anggaran aliran tunai masa hadapan yang dijangka akan terhasil daripada penggunaan aset yang berterusan dan pelupusan aset pada hujung tempoh hayat berguna aset tersebut.

Amaun boleh pulih dianggarkan untuk aset individu.

Kerugian rosot nilai dibalikkan catatannya jika terdapat perubahan dalam anggaran yang digunakan untuk menentukan amaun boleh pulih.
Kerugian rosot nilai dibalikkan hanya setakat amaun dibawa aset tidak melebihi amaun dibawa yang boleh ditentukan, pada amaun bersih selepas ditolak susut nilai atau pelupusan, jika tiada kerugian rosot nilai yang telah diiktiraf.

(o) Manfaat pekerja (i) Manfaat jangka pendek Upah, gaji, bonus dan caruman keselamatan sosial diiktiraf sebagai belanja dalam tahun kewangan di mana perkhidmatan yang berkenaan diberikan oleh kakitangan Yayasan.
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DASAR PERAKAUNAN SIGNIFIKAN (SAMBUNGAN) (o) Manfaat pekerja (sambungan) (i) Manfaat jangka pendek (sambungan) Ketidakhadiran terpampas terkumpul jangka pendek seperti cuti tahunan berbayar diiktiraf apabila perkhidmatan diberi oleh kakitangan yang meningkatkan hak mereka bagi ketidakhadiran terpampas masa hadapan, dan ketidakhadiran terpampas jangka pendek tidak terkumpul seperti cuti sakit, diiktiraf apabila ketidakhadiran berlaku.
(ii) Pelan caruman ditentukan Seperti yang dikehendaki oleh undang-undang, majikan dan pekerja di Malaysia perlu membuat caruman kepada Kumpulan Wang Simpanan Pekerja (KWSP).

Caruman tersebut diiktiraf sebagai belanja.


(p) Anggaran dan pertimbangan perakaunan signifikan (i) Pengukuran liabiliti pajakan dan aset hak-guna Pengukuran liabiliti pajakan dan aset hak-guna yang sepadan termasuk, apabila berkaitan, bayaran tetap dasar, anggaran tempoh pajakan, pilihan untuk pembelian, bayaran di bawah jaminan nilai sisa dan penalti untuk penamatan awal.

Bayaran sebenar mungkin tidak bertepatan dengan anggaran ini.
Yayasan menaksir semula liabiliti pajakan untuk sebarang perubahan dalam pengukuran dan pelarasan sepadan dibuat kepada aset hak-guna.

3.
PENERIMAAN PAKAI MFRS, PINDAAN KEPADA MFRS DAN INTERPRETASI 3.1 Pindaan kepada MFRS yang diterima pakai Untuk penyediaan penyata kewangan, berikut adalah pindaan kepada MFRS yang diterbitkan oleh MASB yang wajib bagi kali pertama bagi tahun kewangan bermula pada atau selepas 1 Januari 2021: ● Pindaan kepada MFRS 9 Instrumen Kewangan, MFRS 139 Instrumen Kewangan: Pengiktirafan dan Pengukuran, MFRS 7 Instrumen Kewangan: Pendedahan, MFRS 4 Kontrak Insurans dan MFRS 16 Pajakan – Reformasi Ukur Rujuk Kadar Faedah—Fasa 2 Penerimaan pakai pindaan kepada MFRS yang disebut di atas tidak mempunyai kesan signifikan terhadap penyata kewangan Yayasan.
3.2 Pindaan kepada MFRS yang belum berkuat kuasa Berikut adalah pindaan kepada MFRS yang telah diterbitkan oleh MASB sehingga tarikh terbitan penyata kewangan Yayasan tetapi belum diterima pakai oleh Yayasan: Pindaan kepada MFRS yang berkuat kuasa bagi tempoh tahunan bermula pada atau selepas 1 Januari 2022 ● Pindaan kepada MFRS 3 Kombinasi Perniagaan – Rujukan kepada Rangka Kerja Konseptual 159 Yayasan Laporan Kewangan 2 0 2 1 Yayasan Laporan Kewangan (Ditubuhkan di bawah Akta Laporan Kewangan 1997) NOTA KEPADA PENYATA KEWANGAN – 31 DISEMBER 2021 3.
PENERIMAAN PAKAI MFRS, PINDAAN KEPADA MFRS DAN INTERPRETASI (SAMBUNGAN) 3.2 Pindaan kepada MFRS yang belum berkuat kuasa (sambungan) Pindaan kepada MFRS yang berkuat kuasa bagi tempoh tahunan bermula pada atau selepas 1 Januari 2022 (sambungan) ● Pindaan kepada MFRS 116 Harta, Loji dan Peralatan − Terimaan sebelum Kegunaan Sepatutnya ● Pindaan kepada MFRS 137 Peruntukan, Liabiliti Bersyarat dan Aset Bersyarat – Kontrak Membebankan—Kos Memenuhi Kontrak ● Penambahbaikan Tahunan kepada Piawaian MFRS 2018-2020 Pindaan kepada MFRS yang berkuat kuasa bagi tempoh tahunan bermula pada atau selepas 1 Januari 2023 ● Pindaan kepada MFRS 101 Pembentangan Penyata Kewangan – Pengelasan Liabiliti sebagai Semasa atau Bukan Semasa ● Pindaan kepada MFRS 101 Pembentangan Penyata Kewangan – Pendedahan Dasar Perakaunan ● Pindaan kepada MFRS 108 Dasar Perakaunan, Perubahan dalam Anggaran Perakaunan dan Kesilapan – Definisi Anggaran Perakaunan ● Pindaan kepada MFRS 112 Cukai Pendapatan – Cukai Tertunda berkaitan Aset dan Liabiliti terhasil daripada Urus Niaga Tunggal Pindaan kepada MFRS yang berkuat kuasa bagi tempoh tahunan bermula pada atau selepas tarikh yang belum ditentukan ● Pindaan kepada MFRS 10 Penyata Kewangan Disatukan dan MFRS 128 Pelaburan dalam Syarikat Bersekutu dan Usaha Sama – Penjualan atau Sumbangan Aset antara Pelabur dan Syarikat Bersekutu atau Usaha Sama Ahli Yayasan menjangkakan bahawa pindaan yang disebut di atas hanya akan diterima pakai oleh Yayasan apabila ia mula berkuat kuasa.
3.3 MFRS dan Pindaan kepada MFRS yang tidak diterima pakai ● MFRS 17 Kontrak Insurans, Pindaan kepada MFRS 17 Kontrak Insurans dan Pindaan kepada MFRS 17 Kontrak Insurans – Aplikasi Awal MFRS 17 dan MFRS 9—Maklumat Perbandingan tidak dijangka akan terpakai kepada Yayasan.
● Pindaan kepada MFRS 16 Pajakan – Konsesi Sewa Berkaitan Covid-19 tidak diterima pakai kerana perubahan kepada pajakan Yayasan tidak menepati syarat yang terkandung dalam Pindaan untuk melayakkan Yayasan mengaplikasi manfaat praktikal bagi konsesi sewa.

● Pindaan kepada MFRS 16 Pajakan – Konsesi Sewa Berkaitan Covid-19 melangkaui 30 Jun 2021 tidak terpakai kepada Yayasan.
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ASET KETARA Perabot dan kelengkapan Komputer Kenderaan Peralatan pejabat Jumlah RM RM RM RM RM 2021 Kos Pada 1 Januari Tambahan Hapus kira 634,120 16,620 - 168,913 33,708 (36,073) 166,548 66,202 262,096 1,131,331 - - 1,650 - 51,978 (36,073) 66,202 263,746 1,147,236 Pada 31 Disember 650,740 Susut nilai terkumpul Pada 1 Januari Susut nilai bagi tahun kewangan Hapus kira Pada 31 Disember Amaun dibawa 510,213 121,944 38,142 246,693 916,992 76,969 - 587,182 22,621 (36,063) 108,502 13,241 - 6,399 - 119,230 (36,063) 51,383 253,092 1,000,159 Pada 31 Disember 63,558 58,046 14,819 10,654 147,077 2020 Kos Pada 1 Januari 634,120 Tambahan Hapus kira - - Pada 31 Disember 634,120 147,569 32,024 (10,680) 168,913 66,202 261,297 1,109,188 - - 799 - 32,823 (10,680) 66,202 262,096 1,131,331 Susut nilai terkumpul Pada 1 Januari Susut nilai bagi tahun kewangan Hapus kira Pada 31 Disember Amaun dibawa 436,471 110,448 24,902 240,505 812,326 73,742 - 510,213 22,164 (10,668) 121,944 13,240 - 6,188 - 38,142 246,693 115,334 (10,668) 916,992 Pada 31 Disember 123,907 46,969 28,060 15,403 214,339 Termasuk dalam perabot dan kelengkapan adalah peruntukan kos penamatan berjumlah RM88,000 (2020: RM73,000).
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ASET HAK-GUNA Kos Pada 1 Januari 2020 Tambahan Pengubahsuaian pajakan Penamatan Premis pejabat RM 951,244 - (17,396) Peralatan pejabat RM 121,906 105,652 - Jumlah RM 1,073,150 105,652 (17,396) - (121,906) (121,906) Pada 31 Disember 2020/1 Januari 2021/ 31 Disember 2021 933,848 105,652 1,039,500 Susut nilai terkumpul Pada 1 Januari 2020 Susut nilai bagi tahun kewangan Penamatan Pada 31 Disember 2020/1 Januari 2021 Susut nilai bagi tahun kewangan Pada 31 Disember 2021 Amaun dibawa Pada 1 Januari 2020 Pada 31 Disember 2020 Pada 31 Disember 2021 369,928 156,608 97,525 23,568 - (115,811) 5,282 21,130 26,412 467,453 180,176 (115,811) 531,818 173,873 705,691 24,381 605,697 100,370 507,682 79,240 333,809 526,536 152,743 679,279 581,316 407,312 254,569 Yayasan memajak premis pejabat dan peralatan pejabatnya.
Pertimbangan dan andaian signifikan berhubung dengan pajakan Yayasan menaksir pada tarikh permulaan pajakan dengan mengaplikasi pertimbangan signifikan sama ada ia pasti akan melaksanakan pilihan lanjutan.

Dalam menentukan tempoh pajakan, Yayasan akan mempertimbangkan semua fakta dan keadaan termasuk amalan masa lalu dan sebarang kos yang akan ditanggung untuk menggantikan aset jika pilihan lanjutan tidak dilaksanakan.
Yayasan juga membuat pertimbangan dan andaian dalam menentukan kadar pinjaman tambahan setiap pajakan.

Yayasan mulanya menentukan kadar pinjaman tersedia yang paling hampir sebelum menggunakan pertimbangan signifikan untuk menentukan pelarasan yang diperlukan untuk menggambarkan tempoh, sekuriti, nilai atau persekitaran ekonomi setiap pajakan.
Premis pejabat Terdapat bayaran pajakan yang lebih rendah bermula 1 September 2020 hingga 31 Ogos 2021 berikutan diskaun sewaan yang diberikan oleh pemilik premis sebagai langkah bantuan kepada 2 0 2 1 Yayasan Laporan Kewangan 162 Yayasan Laporan Kewangan (Ditubuhkan di bawah Akta Laporan Kewangan 1997) NOTA KEPADA PENYATA KEWANGAN – 31 DISEMBER 2021 5.

ASET HAK-GUNA (SAMBUNGAN) penyewa semasa pandemik COVID-19.
Ini telah menyebabkan penarikbalikan sebanyak RM Tiada (2020: RM17,396) masing-masing bagi pengubahsuaian pajakan dalam aset hak-guna dan liabiliti pajakan (Nota 10).

6.

INVENTORI Pernyataan teknikal yang diterbitkan oleh MASB Pada kos Tolak: Elaun untuk keusangan inventori 2021 RM 43,825 (43,728) 97 2020 RM 44,775 (43,786) 989 Pernyataan teknikal merujuk kepada piawaian perakaunan diluluskan MASB dan pernyataan teknikal lain yang diterbitkan dan tersedia untuk dijual oleh Yayasan.

7.
7.

BELUM TERIMA LAIN, DEPOSIT DAN BAYARAN TERDAHULU Belum terima lain Deposit Bayaran terdahulu 8.
DEPOSIT DI INSTITUSI KEWANGAN Instrumen berkadar tetap Deposit di bank berlesen - dengan kematangan kurang daripada 3 bulan - dengan kematangan lebih daripada 3 bulan 2021 RM 10,010 48,628 46,064 104,702 2020 RM - 48,628 43,478 92,106 2021 RM 2020 RM 715,915 16,793,561 17,509,476 656,471 12,565,807 13,222,278 Kadar faedah bagi deposit tetap pada tarikh pelaporan adalah antara 1.70% ke 2.40% (2020: 1.55% ke 3.40%) setahun.

Kadar purata wajaran efektif pada tarikh pelaporan ialah 2.01% (2020: 2.95%) setahun.
Deposit tetap Yayasan mempunyai tempoh matang antara 2 bulan ke 1 tahun (2020: 21 hari ke 1 tahun).

Pendapatan kewangan belum terima pada tarikh pelaporan ialah RM203,708 (2020: RM169,972).

163 Yayasan Laporan Kewangan 2 0 2 1 Yayasan Laporan Kewangan (Ditubuhkan di bawah Akta Laporan Kewangan 1997) NOTA KEPADA PENYATA KEWANGAN – 31 DISEMBER 2021 8.
DEPOSIT DI INSTITUSI KEWANGAN (SAMBUNGAN) Termasuk dalam deposit di atas adalah deposit tetap bertempoh kurang daripada 3 bulan berjumlah RM715,915 (2020: RM656,471) yang dikelaskan sebagai tunai dan kesetaraan tunai dalam penyata aliran tunai.

9.
9.

GERAN MODAL Geran modal telah diberikan oleh: Kerajaan Malaysia Suruhanjaya Sekuriti Malaysia Bursa Malaysia Berhad 2021 RM 28,000,000 10,000,000 10,000,000 48,000,000 2020 RM 25,000,000 10,000,000 10,000,000 45,000,000 Geran modal awal sebanyak RM30 juta, yang tidak perlu dibayar balik, diterima dalam dua tranche pada tahun 1997 dan 1998.
Dalam tahun kewangan, Yayasan telah menerima geran modal sebanyak RM3 juta daripada Kerajaan Malaysia yang merupakan sebahagian daripada geran tahunan yang diluluskan sebanyak RM3 juta selama 5 tahun dari 2021 hingga 2025, atau sehingga pelan pendanaan jangka panjang Yayasan yang lebih mampan dapat dilaksanakan, yang mana lebih dahulu.

10.
LIABILITI PAJAKAN Bayaran pajakan masa hadapan belum bayar: - Tidak lebih daripada setahun 209,914 196,592 2021 RM 2020 RM - Lebih daripada setahun dan tidak lebih daripada lima tahun Tolak: Caj faedah masa hadapan Nilai semasa liabiliti pajakan Dibayar balik seperti berikut: Semasa - Tidak lebih daripada setahun Bukan semasa - Lebih daripada setahun dan tidak lebih daripada lima tahun 188,692 398,606 (26,762) 371,844 398,606 595,198 (51,760) 543,438 192,971 171,595 178,873 371,844 371,843 543,438 2 0 2 1 Yayasan Laporan Kewangan 164 Yayasan Laporan Kewangan (Ditubuhkan di bawah Akta Laporan Kewangan 1997) NOTA KEPADA PENYATA KEWANGAN – 31 DISEMBER 2021 10.
LIABILITI PAJAKAN (SAMBUNGAN) Penyesuaian liabiliti pajakan yang terhasil daripada aktiviti pembiayaan: Pada 1 Januari Tolak: Pembayaran liabiliti pajakan Tambah: Faedah atas liabiliti pajakan Tambah: Tambahan liabiliti pajakan Tolak: Pengubahsuaian pajakan Tolak: Penamatan liabiliti pajakan Pada 31 Disember 2021 RM 543,438 (196,590) 24,996 - - - 371,844 2020 RM 638,324 (205,952) 29,332 105,652 (17,396) (6,522) 543,438 Terdapat bayaran pajakan yang lebih rendah bermula 1 September 2020 hingga 31 Ogos 2021 berikutan diskaun sewaan yang diberikan oleh pemilik premis sebagai langkah bantuan kepada penyewa semasa pandemik COVID-19.
Ini telah menyebabkan penarikbalikan sebanyak RM Tiada (2020: RM17,396) masing-masing bagi pengubahsuaian pajakan dalam aset hak-guna (Nota 5) dan liabiliti pajakan.

11.
BELUM BAYAR LAIN, AKRUAN DAN PERUNTUKAN Nota 2021 RM 2020 RM Semasa: Belum bayar lain Akruan Pendapatan tertunda – geran berkaitan dengan pendapatan (a) 16,547 302,746 1,620,561 1,939,854 15,407 309,503 296,251 621,161 Pendapatan tertunda – pergerakan sepanjang tahun: Pada 1 Januari - Jawatankuasa Aplikasi dan Pelaksanaan MFRS 296,251 435,775 Dana diterima sepanjang tahun - Jawatankuasa Aplikasi dan Pelaksanaan MFRS - pendanaan interim Dikreditkan ke untung atau rugi 13 - Jawatankuasa Aplikasi dan Pelaksanaan MFRS - pendanaan interim Pada 31 Disember 1,000,000 4,000,000 500,000 2,000,000 (842,357) (2,833,333) 1,620,561 (639,524) (2,000,000) 296,251 165 Yayasan Laporan Kewangan 2 0 2 1 Yayasan Laporan Kewangan (Ditubuhkan di bawah Akta Laporan Kewangan 1997) NOTA KEPADA PENYATA KEWANGAN – 31 DISEMBER 2021 11.
BELUM BAYAR LAIN, AKRUAN DAN PERUNTUKAN (SAMBUNGAN) Bukan semasa: Peruntukan untuk kos penamatan pengubahsuaian pejabat bagi penamatan pajakan Pergerakan peruntukan: Pada 1 Januari Peruntukan tambahan sepanjang tahun Pada 31 Disember Nota 2021 RM 2020 RM (b) 88,000 73,000 73,000 15,000 88,000 73,000 - 73,000 (a) Pada tahun 2019, Dana Pembangunan Pasaran Modal telah bersetuju untuk memberikan geran sehingga RM1 juta setahun untuk tempoh tiga tahun dari 2019 hingga 2021 untuk menyokong aktiviti Jawatankuasa Aplikasi dan Pelaksanaan MFRS yang ditubuhkan oleh MASB.
Dalam tahun kewangan, Dana Pembangunan Pasaran Modal telah menyalurkan geran sebanyak RM1 juta (2020: RM500,000).

Termasuk dalam pendapatan tertunda adalah RM453,894 yang merupakan baki yang tinggal daripada RM2.5 juta dana terkumpul yang diterima daripada Dana Pembangunan Pasaran Modal di mana perbelanjaan terkumpul sebanyak RM2,046,106 (2020: RM1,203,749) telah dibelanjakan ke dalam untung atau rugi.

Perbelanjaan tertanggung bagi tahun kewangan semasa adalah RM842,357 (2020: RM639,524) (Nota 13).
Pada tahun 2019, Dana Pembangunan Pasaran Modal bersetuju untuk memberikan geran sehingga RM2 juta setahun sebagai dana interim untuk menyokong perbelanjaan operasi Yayasan dan MASB untuk tempoh tiga tahun dari 2019 hingga 2021.

Dalam tahun kewangan, Yayasan telah menerima dana interim sebanyak RM4 juta (2020: RM2 juta), termasuk geran terakhir sebanyak RM2 juta.
Memandangkan tempoh pendanaan adalah sehingga tempoh berakhir 31 Julai 2022, sejumlah RM1,166,667 daripada geran terakhir ini termasuk dalam pendapatan tertunda, yang akan diiktiraf dalam untung atau rugi sepanjang tempoh 2022.

(b) Kos penamatan pengubahsuaian pejabat adalah berkaitan premis yang dipajakkan kepada Yayasan.
Kos tersebut, yang dipermodalkan, diiktiraf berdasarkan syarat yang termaktub dalam perjanjian sewa berkenaan dan anggaran berdasarkan kos penanggalan, pembuangan dan baik pulih yang akan tertanggung apabila premis dipulangkan kepada pemberi pajak apabila perjanjian sewa ditamatkan.

Pajakan premis pejabat akan tamat tempoh pada 31 Ogos 2023.

2 0 2 1 Yayasan Laporan Kewangan 166 Yayasan Laporan Kewangan (Ditubuhkan di bawah Akta Laporan Kewangan 1997) NOTA KEPADA PENYATA KEWANGAN – 31 DISEMBER 2021 12.
HASIL Hasil daripada kontrak dengan pelanggan: - Jualan pernyataan teknikal Pemasaan hasil - pada sesuatu masa 13.
PENDAPATAN LAIN 2021 RM 2020 RM 19,380 22,604 19,380 22,604 2021 RM 2020 RM Pendapatan kewangan daripada deposit tetap 367,779 388,398 Untung daripada pelupusan aset ketara, bersih daripada aset ketara dihapus kira Dana yang diterima daripada Dana Pembangunan Pasaran Modal - Jawatankuasa Aplikasi dan Pelaksanaan MFRS (Nota 11) - pendanaan interim (Nota 11) Lain-lain 3,390 - 842,357 2,833,333 2,025 4,048,884 639,524 2,000,000 26,329 3,054,251 Pada tahun 2019, Dana Pembangunan Pasaran Modal telah bersetuju untuk memberikan geran sehingga RM1 juta setahun untuk tempoh tiga tahun dari 2019 hingga 2021 untuk menyokong aktiviti Jawatankuasa Aplikasi dan Pelaksanaan MFRS yang ditubuhkan oleh MASB.
Dalam tahun kewangan, Dana Pembangunan Pasaran Modal telah menyalurkan geran sebanyak RM1 juta (2020: RM500,000).

Termasuk dalam pendapatan lain adalah amaun geran yang diiktiraf dalam untung atau rugi daripada pendapatan tertunda (Nota 11).

Pada tahun 2019, Dana Pembangunan Pasaran Modal telah bersetuju untuk memberikan geran sehingga RM2 juta setahun sebagai pendanaan interim untuk menyokong perbelanjaan operasi Yayasan dan MASB untuk tempoh tiga tahun dari 2019 hingga 2021.
Dalam tahun kewangan, Yayasan telah menerima pendanaan interim sebanyak RM4 juta (2020: RM2 juta), termasuk geran terakhir sebanyak RM2 juta.

Dana interim sebanyak RM2 juta dan sebahagian daripada geran terakhir sebanyak RM833,333 diiktiraf dalam untung atau rugi dalam tahun kewangan.

Baki daripada geran terakhir sebanyak RM1,166,667 termasuk dalam pendapatan tertunda (Nota 11).
167 Yayasan Laporan Kewangan 2 0 2 1 Yayasan Laporan Kewangan (Ditubuhkan di bawah Akta Laporan Kewangan 1997) NOTA KEPADA PENYATA KEWANGAN – 31 DISEMBER 2021 14.
LEBIHAN/(DEFISIT) SEBELUM CUKAI Lebihan/(Defisit) sebelum cukai dinyatakan selepas mengenakan caj/(mengkreditkan): Ganjaran juruaudit Kos barangan yang dijual Susut nilai aset ketara (Nota 4) Susut nilai aset hak-guna (Nota 5) Perbelanjaan faedah ke atas pajakan liabiliti (Nota 10) Kos kakitangan (Nota 17) Penarikbalikan elaun untuk keusangan inventori Kos bersama Yayasan IFRS* Kos Jawatankuasa Aplikasi dan Pelaksanaan MFRS (Nota 13) - kos kakitangan (Nota 17) - aktiviti pendidikan dan jangkauan luar - perwakilan dan advokasi antarabangsa Penyelenggaraan premis Yuran royalti 2021 RM 30,000 11,390 119,230 173,873 24,996 2020 RM 28,000 17,627 115,334 180,176 29,332 1,951,054 2,064,781 (58) 368,992 (5) 358,677 624,166 192,746 25,445 842,357 5,279 114,270 453,662 185,862 - 639,524 13,666 107,012 * Yayasan IFRS merupakan sebuah badan bebas antarabangsa yang bekerja untuk kepentingan awam dan objektif utamanya adalah untuk menghasilkan satu set tunggal piawaian pelaporan kewangan yang berkualiti tinggi dan diterima pakai di peringkat global melalui badan penetapan piawaiannya iaitu, Lembaga Piawaian Perakaunan Antarabangsa, untuk menggalakkan penggunaan dan aplikasi yang teliti piawaian tersebut, serta penerimaan pakai piawaian melalui penumpuan piawaian perakaunan nasional dan Piawaian Pelaporan Kewangan Antarabangsa.
Kos bersama Yayasan IFRS adalah merupakan bahagian kos yang ditanggung oleh FRF untuk penetapan piawaian, pendidikan, perkhidmatan kandungan, Bahasa Pelaporan Perniagaan diperluas dan program jangkauan luar bersama pihak berkepentingan.

15.

PENCUKAIAN Tiada peruntukan pencukaian dibuat kerana Yayasan berada dalam kedudukan rugi cukai.
Pelarasan belanja cukai pendapatan ke atas hasil kewangan pada kadar cukai pendapatan berkanun yang dikenakan adalah seperti berikut: Lebihan/(Defisit) bagi tahun kewangan 95,834 (874,928) 2021 RM 2020 RM 2 0 2 1 Yayasan Laporan Kewangan 168 Yayasan Laporan Kewangan (Ditubuhkan di bawah Akta Laporan Kewangan 1997) NOTA KEPADA PENYATA KEWANGAN – 31 DISEMBER 2021 15.
PENCUKAIAN (SAMBUNGAN) 2021 RM 2020 RM Cukai pendapatan pada kadar berskala 25,875 (236,231) Kesan cukai daripada: Belanja tidak boleh ditolak untuk tujuan cukai Aset cukai tertunda tidak diiktiraf Pengasalan dan penarikbalikan perbezaan sementara Penggunaan aset cukai tertunda sebelum ini tidak diiktiraf 12,540 - (34,763) (3,652) - 20,442 81,634 134,155 - - Pada 29 Disember 2017, Menteri Kewangan Malaysia telah memberikan Yayasan pengecualian daripada cukai pegangan bagi bayaran royalti kepada Yayasan IFRS selama 10 tahun berkuat kuasa dari tahun 2019 hingga 2028 di bawah seksyen 127(3A) Akta Cukai Pendapatan 1967.
16.
PENCUKAIAN TERTUNDA (a) Amaun yang ditentukan setelah mengofset dengan sesuai, adalah seperti berikut: Liabiliti cukai tertunda Aset cukai tertunda 2021 RM 60,280 (60,280) - 2020 RM 68,568 (68,568) - (b) Komponen aset dan liabiliti cukai tertunda pada akhir tahun kewangan merangkumi kesan cukai yang berikut: Liabiliti cukai tertunda Pendapatan belum terima daripada deposit di institusi kewangan Lebihan elaun modal ke atas susut nilai Aset cukai tertunda Rugi cukai belum guna 2021 RM 55,001 5,279 60,280 2020 RM 45,892 22,676 68,568 (60,280) (68,568) - - 169 Yayasan Laporan Kewangan 2 0 2 1 Yayasan Laporan Kewangan (Ditubuhkan di bawah Akta Laporan Kewangan 1997) NOTA KEPADA PENYATA KEWANGAN – 31 DISEMBER 2021 16.
PENCUKAIAN TERTUNDA (SAMBUNGAN) (c) Baki perbezaan sementara boleh kurang yang tidak diiktiraf sebagai aset cukai tertunda adalah seperti berikut: Rugi cukai belum guna Perbezaan sementara boleh kurang lain 2021 RM 2020 RM (38,319,970) (38,418,977) (1,763,794) (1,678,313) (40,083,764) (40,097,290) (d) (e) Tiada aset cukai tertunda yang diiktiraf dalam penyata kedudukan kewangan disebabkan oleh ketidakpastian mengenai adanya untung boleh cukai masa hadapan yang dapat digunakan terhadap perbezaan sementara boleh kurang.
Pada 31 Disember 2021, Yayasan mempunyai kerugian cukai belum guna kira-kira sebanyak RM38,319,000 (2020: RM38,418,000) yang boleh diofset daripada pendapatan bercukai masa hadapan.

Untuk tahun taksiran (YA) 2021, kerugian cukai belum guna hanya boleh dibawa ke hadapan bagi tempoh maksimum 7 YA berturut-turut untuk digunakan ke atas pendapatan daripada sebarang sumber perniagaan.

Kerugian cukai belum guna untuk YA 2018 boleh digunakan untuk 7 YA akan datang dan akan diabaikan pada YA 2026.

17.
17.

KOS KAKITANGAN Gaji, elaun dan bayaran lebih masa Caruman KWSP Caruman PERKESO Manfaat lain Kos kakitangan tertanggung oleh: (a) Yayasan (b) Jawatankuasa Aplikasi dan Pelaksanaan MFRS 2021 RM 2,240,856 312,898 8,735 12,731 2020 RM 2,197,733 292,151 8,696 19,863 2,575,220 2,518,443 1,951,054 624,166 2,575,220 2,064,781 453,662 2,518,443 2 0 2 1 Yayasan Laporan Kewangan 170 Yayasan Laporan Kewangan (Ditubuhkan di bawah Akta Laporan Kewangan 1997) NOTA KEPADA PENYATA KEWANGAN – 31 DISEMBER 2021 18.
PAMPASAN KAKITANGAN PENGURUSAN UTAMA Imbuhan kakitangan pengurusan utama: Gaji dan emolumen lain Bonus Caruman KWSP Honorarium kepada ahli Yayasan Honorarium kepada ahli MASB 2021 RM 2020 RM 1,131,463 62,590 189,405 1,383,458 1,600 9,000 10,600 1,070,562 97,900 182,227 1,350,689 2,800 8,000 10,800 1,394,058 1,361,489 Kakitangan pengurusan utama ditentukan sebagai mereka yang mempunyai kuasa dan tanggungjawab untuk merancang, memberi arahan dan mengawal aktiviti Yayasan dan MASB, sama ada secara langsung atau tidak langsung dan termasuk ahli Yayasan dan ahli MASB.
Kakitangan pengurusan utama termasuk ahli Yayasan, ahli MASB, Pengarah Eksekutif, Pengarah Bersekutu, Pembantu Setiausaha Yayasan dan yang setara dengannya.

19.
19.

INSTRUMEN KEWANGAN (a) Objektif dan dasar pengurusan risiko kewangan Objektif dan dasar pengurusan risiko kewangan Yayasan adalah untuk memastikan bahawa sumber kewangan yang mencukupi tersedia untuk pembangunan operasi Yayasan di samping menguruskan risiko kewangannya, termasuk risiko harga pasaran, risiko kredit, risiko kadar faedah serta risiko kecairan dan aliran tunai.

Pelaburan diuruskan dan diawasi secara berterusan bagi memastikan pemeliharaan dana.
(i) Risiko harga pasaran Pendedahan Yayasan terhadap risiko harga pasaran adalah minimum kerana Yayasan tidak mempunyai pelaburan dalam instrumen ekuiti di mana nilai saksama atau aliran tunai masa hadapan akan turun naik berikutan perubahan harga pasaran.

(ii) Risiko kredit Risiko kredit ialah risiko kerugian kewangan kepada Yayasan jika institusi kewangan gagal untuk memenuhi obligasi kontrak.

Risiko kredit timbul terutamanya daripada deposit di institusi kewangan (Nota 8) dan tunai dan baki di bank.
Pendedahan maksimum kepada risiko kredit pada tarikh pelaporan adalah bersamaan dengan amaun dibawa deposit di institusi kewangan dan tunai dan baki di bank sebanyak RM17,813,588 (2020: RM13,326,224).

Pada tarikh pelaporan, baki di bank dan deposit dipegang oleh empat (2020: empat) bank berdaftar yang dikawal selia oleh Bank Negara Malaysia.

171 Yayasan Laporan Kewangan 2 0 2 1 Yayasan Laporan Kewangan (Ditubuhkan di bawah Akta Laporan Kewangan 1997) NOTA KEPADA PENYATA KEWANGAN – 31 DISEMBER 2021 19.
INSTRUMEN KEWANGAN (SAMBUNGAN) (a) Objektif dan dasar pengurusan risiko kewangan (sambungan) (iii) Risiko kadar faedah Risiko kadar faedah ialah risiko di mana nilai saksama atau aliran tunai masa hadapan instrumen kewangan Yayasan akan turun naik akibat perubahan kadar faedah pasaran.

Yayasan terdedah kepada risiko kadar faedah minimum kerana deposit di institusi kewangan dibawa pada kadar tetap dan diukur pada kos terlunas.
(iv) Risiko kecairan dan aliran tunai Risiko kecairan dan aliran tunai ialah potensi di mana wang kepada dana yang dilaburkan tidak dapat diakses apabila diperlukan.

Pendedahan Yayasan kepada risiko kecairan dan aliran tunai dikurangkan melalui dasar pelaburannya dalam instrumen pelaburan cair.

Yayasan mengekalkan tahap tunai dan kesetaraan tunai yang mencukupi untuk membiayai operasinya dan untuk mengurangkan kesan turun naik aliran tunai.
(b) Pengelasan aset kewangan dan liabiliti kewangan Jadual berikut merumuskan amaun dibawa aset kewangan dan liabiliti kewangan yang direkodkan pada tarikh pelaporan: Aset kewangan pada kos terlunas Belum terima lain dan deposit Deposit tetap di institusi kewangan Tunai dan baki di bank Liabiliti kewangan pada kos terlunas Belum bayar lain dan akruan Liabiliti pajakan 2021 RM 2020 RM 58,638 48,628 17,509,476 13,222,278 304,112 103,946 1,939,854 371,844 621,161 543,438 Pendedahan kuantitatif selanjutnya disertakan dalam keseluruhan penyata kewangan ini.
(c) Pengurusan modal Yayasan menguruskan geran modal melalui pelaburan dalam deposit tetap yang berpatutan untuk meminimumkan risiko kerugian modal.

(d) Nilai saksama instrumen kewangan Yayasan telah menetapkan bahawa amaun dibawa aset kewangan dan liabiliti kewangan Yayasan adalah hampir dengan nilai saksamanya disebabkan sifat jangka pendek instrumen kewangan ini.
2 0 2 1 Yayasan Laporan Kewangan 172 Yayasan Laporan Kewangan (Ditubuhkan di bawah Akta Laporan Kewangan 1997) NOTA KEPADA PENYATA KEWANGAN – 31 DISEMBER 2021 20.
URUS NIAGA PIHAK BERKAITAN Bagi tujuan penyata kewangan ini, suatu pihak dianggap mempunyai kaitan dengan Yayasan jika Yayasan mempunyai keupayaan, sama ada secara langsung atau tidak langsung, untuk mengawal atau mengawal bersama pihak tersebut atau memberi pengaruh signifikan terhadap pihak tersebut dalam membuat keputusan kewangan dan operasi, atau sebaliknya, atau di mana Yayasan dan pihak tersebut tertakluk kepada kawalan sepunya.

Pihak berkaitan mungkin merupakan individu atau entiti lain.
Pihak berkaitan juga termasuk kakitangan pengurusan utama yang ditakrif sebagai individu yang mempunyai kuasa dan tanggungjawab untuk merancang, mengarah dan mengawal aktiviti Yayasan dan MASB, sama ada secara langsung atau tidak langsung termasuk ahli Yayasan dan MASB.

Yayasan mempunyai hubungan pihak berkaitan dengan kakitangan pengurusan utamanya.

Urus niaga pihak berkaitan Urus niaga pihak berkaitan telah dijalankan sebagai urusan biasa perniagaan berdasarkan terma perdagangan biasa.
Urus niaga pihak berkaitan Yayasan adalah seperti berikut: Yuran guaman Kos Jawatankuasa Aplikasi dan Pelaksanaan MFRS 21.

PERISTIWA SIGNIFIKAN DALAM TAHUN KEWANGAN 2021 RM - 9,000 2020 RM 9,500 5,000 Pada 27 Januari 2021 dan 30 Ogos 2021, Yayasan telah menerima pendanaan interim kedua dan terakhir masing-masing berjumlah RM2 juta daripada Dana Pembangunan Pasaran Modal untuk menyokong perbelanjaan operasi Yayasan dan MASB.
Pada 17 Februari 2021, Yayasan telah menerima RM3 juta daripada Kementerian Kewangan Malaysia sebagai bayaran geran modal tahunan.

22.

PERISTIWA SELEPAS TAHUN KEWANGAN Pada 24 Februari 2022, Yayasan telah menerima RM3 juta daripada Kementerian Kewangan Malaysia sebagai bayaran geran modal tahunan.

23.

KEBENARAN UNTUK DITERBITKAN Penyata kewangan Yayasan bagi tahun berakhir 31 Disember 2021 ini telah diluluskan dan dibenarkan untuk diterbitkan oleh Ahli Yayasan pada 8 Mac 2022.
173 Yayasan Laporan Kewangan 2 0 2 1 Yayasan Laporan Kewangan (Ditubuhkan di bawah Akta Laporan Kewangan 1997) PENYATA OLEH AHLI YAYASAN LAPORAN KEWANGAN Kami, DATO’ ZAINAL ABIDIN PUTIH dan DATUK MOHD NASIR AHMAD, selaku dua daripada Ahli YAYASAN LAPORAN KEWANGAN, dengan ini menyatakan bahawa pada pendapat Ahli Yayasan, penyata kewangan di muka surat 147 hingga 173 telah disediakan menurut peruntukan Akta Laporan Kewangan 1997 di Malaysia, Piawaian Pelaporan Kewangan Malaysia dan Piawaian Pelaporan Kewangan Antarabangsa untuk menunjukkan gambaran yang benar dan saksama berkenaan kedudukan kewangan Yayasan pada 31 Disember 2021 dan prestasi kewangan dan aliran tunai bagi tahun berakhir pada tarikh tersebut.
Bagi pihak Ahli Yayasan Laporan Kewangan, DATO’ ZAINAL ABIDIN PUTIH Pengerusi DATUK MOHD NASIR AHMAD Ahli Kuala Lumpur 8 Mac 2022 2 0 2 1 Yayasan Laporan Kewangan 174 Yayasan Laporan Kewangan (Ditubuhkan di bawah Akta Laporan Kewangan 1997) PERAKUAN OLEH PEGAWAI UTAMA YANG BERTANGGUNGJAWAB KE ATAS PENGURUSAN KEWANGAN YAYASAN LAPORAN KEWANGAN Saya, CHEE CHOONG YIN, selaku pegawai utama yang bertanggungjawab terhadap pengurusan kewangan YAYASAN LAPORAN KEWANGAN, dengan sesungguhnya dan seikhlasnya berikrar bahawa pada sebaik-baik pengetahuan dan kepercayaan saya, penyata kewangan yang dibentangkan di muka surat 147 hingga 173 adalah betul, dan saya membuat ikrar ini dengan bersungguh-sungguh mempercayai bahawa ia adalah benar dan menurut peruntukan di bawah Akta Akuan Berkanun 1960.
CHEE CHOONG YIN Nombor MIA: 9796 Ditandatangani dan diakui dengan sesungguhnya oleh penama di atas di Kuala Lumpur di Wilayah Persekutuan pada 8 Mac 2022 Di hadapan saya 175 Yayasan Laporan Kewangan 2 0 2 1 Yayasan Laporan Kewangan (Ditubuhkan di bawah Akta Laporan Kewangan 1997) LAPORAN JURUAUDIT BEBAS KEPADA AHLI YAYASAN LAPORAN KEWANGAN Laporan Mengenai Audit Penyata Kewangan Pendapat Kami telah mengaudit penyata kewangan Yayasan Laporan Kewangan, yang terdiri daripada penyata kedudukan kewangan pada 31 Disember 2021, dan penyata untung atau rugi dan pendapatan komprehensif lain, penyata perubahan ekuiti dan penyata aliran tunai bagi tahun kewangan berakhir pada tarikh tersebut, dan nota kepada penyata kewangan, termasuk rumusan dasar perakaunan signifikan, seperti yang dibentangkan di muka surat 147 hingga 173.
Pada pendapat kami, penyata kewangan ini memberi gambaran yang benar dan saksama mengenai kedudukan kewangan Yayasan pada 31 Disember 2021, dan prestasi kewangannya serta aliran tunainya bagi tahun kewangan berakhir pada tarikh tersebut menurut Piawaian Pelaporan Kewangan Malaysia, Piawaian Pelaporan Kewangan Antarabangsa dan peruntukan Akta Laporan Kewangan 1997 di Malaysia.
Asas kepada Pendapat Kami menjalankan pengauditan kami berdasarkan piawaian pengauditan yang diluluskan di Malaysia dan Piawaian Pengauditan Antarabangsa.

Tanggungjawab kami di bawah piawaian tersebut dijelaskan dengan lanjut dalam bahagian Tanggungjawab Juruaudit terhadap Audit Penyata Kewangan laporan kami.

Kami percaya bahawa bukti audit yang kami perolehi adalah mencukupi dan sesuai untuk memberi asas kepada pendapat audit kami.
Kebebasan dan Tanggungjawab Etika Lain Kami bebas daripada Yayasan menurut Undang-Undang Kecil (tentang Etika Profesional, Kelakuan dan Amalan) Institut Akauntan Malaysia (“Undang-Undang Kecil”) dan Kod Etika Antarabangsa bagi Akauntan Profesional Lembaga Piawaian Etika Antarabangsa untuk Akauntan (termasuk Piawaian Bebas Antarabangsa) (“Kod IESBA”), dan kami telah memenuhi tanggungjawab etika lain menurut Undang-Undang Kecil dan Kod IESBA itu.
Tanggungjawab Ahli Yayasan ke atas Penyata Kewangan Ahli Yayasan bertanggungjawab dalam penyediaan penyata kewangan Yayasan yang menunjukkan gambaran yang benar dan saksama menurut Piawaian Pelaporan Kewangan Malaysia, Piawaian Pelaporan Kewangan Antarabangsa dan peruntukan dalam Akta Laporan Kewangan 1997 di Malaysia.
Ahli Yayasan juga bertanggungjawab untuk kawalan dalaman sebagaimana yang ditentukan perlu oleh Ahli bagi memastikan penyediaan penyata kewangan Yayasan adalah bebas daripada salah nyata material, sama ada disebabkan oleh penipuan atau kesilapan.
Dalam penyediaan penyata kewangan Yayasan, Ahli bertanggungjawab untuk menilai keupayaan Yayasan untuk terus sebagai satu usaha berterusan, mendedahkan, yang berkenaan, perkara yang berkaitan dengan usaha berterusan dan menggunakan asas perakaunan usaha berterusan melainkan Ahli berniat untuk membubarkan Yayasan atau menamatkan operasi, atau tidak mempunyai pilihan yang realistik tetapi perlu berbuat demikian.
2 0 2 1 Yayasan Laporan Kewangan 176 Yayasan Laporan Kewangan (Ditubuhkan di bawah Akta Laporan Kewangan 1997) LAPORAN JURUAUDIT BEBAS KEPADA AHLI YAYASAN LAPORAN KEWANGAN (SAMBUNGAN) Laporan Mengenai Audit Penyata Kewangan (sambungan) Tanggungjawab Juruaudit terhadap Audit Penyata Kewangan Objektif kami adalah untuk mendapatkan asurans munasabah tentang sama ada penyata kewangan Yayasan secara keseluruhan adalah bebas daripada salah nyata material, sama ada disebabkan oleh penipuan atau kesilapan, dan untuk menerbitkan laporan juruaudit yang merangkumi pendapat kami.
Asurans munasabah adalah tahap asurans yang tinggi, tetapi bukan satu jaminan bahawa audit yang dijalankan menurut piawaian pengauditan diluluskan di Malaysia dan Piawaian Pengauditan Antarabangsa akan sentiasa mengesan salah nyata material apabila ia wujud.
Salah nyata boleh terjadi akibat daripada penipuan atau kesilapan, dan dikira sebagai material sekiranya, secara individu atau secara agregat, boleh dijangkakan secara munasabah akan mempengaruhi keputusan ekonomi yang diambil oleh pengguna berdasarkan penyata kewangan ini.

Sebagai sebahagian daripada audit menurut piawaian pengauditan diluluskan di Malaysia dan Piawaian Pengauditan Antarabangsa, kami menggunakan pertimbangan profesional dan mengekalkan skeptisisme profesional sepanjang audit tersebut.
Kami juga: ● ● ● ● Mengenal pasti dan menilai risiko salah nyata material penyata kewangan Yayasan, sama ada disebabkan oleh penipuan atau kesilapan, mereka dan menjalankan prosedur audit responsif terhadap risiko berkenaan, dan mendapatkan bukti audit yang cukup dan sesuai untuk memberikan asas kepada pendapat kami.
Risiko tidak mengesan sesuatu salah nyata material disebabkan oleh penipuan adalah lebih tinggi daripada sesuatu yang terjadi disebabkan oleh kesilapan, memandangkan penipuan mungkin melibatkan pakatan sulit, pemalsuan, peninggalan yang disengajakan, gambaran yang salah, atau ketidakpatuhan terhadap kawalan dalaman.
Mendapatkan pemahaman tentang kawalan dalaman yang relevan terhadap audit untuk mereka prosedur audit yang sesuai dalam keadaan tersebut, tetapi bukan bertujuan untuk menyatakan pendapat mengenai keberkesanan kawalan dalaman Yayasan.

Menilai kesesuaian dasar perakaunan yang digunakan dan kewajaran anggaran perakaunan dan pendedahan berkenaan yang dibuat oleh Ahli.
Membuat kesimpulan tentang kesesuaian penggunaan usaha berterusan sebagai asas perakaunan oleh Ahli dan, berdasarkan bukti audit yang diperolehi, sama ada ketidaktentuan material wujud berkenaan dengan peristiwa atau keadaan yang boleh menimbulkan keraguan signifikan ke atas keupayaan Yayasan untuk terus beroperasi sebagai satu usaha berterusan.
Jika kami membuat kesimpulan bahawa salah nyata material wujud, kami dikehendaki untuk memberi perhatian di dalam laporan juruaudit kami terhadap pendedahan berkenaan di dalam penyata kewangan Yayasan atau, jika pendedahan tersebut tidak mencukupi, untuk mengubah suai pendapat kami.

Kesimpulan kami adalah berdasarkan kepada bukti audit yang diperolehi setakat tarikh laporan juruaudit kami.
Walau bagaimanapun, peristiwa atau keadaan masa hadapan boleh menyebabkan Yayasan untuk menghentikan operasinya sebagai satu usaha berterusan.

● Menilai keseluruhan pembentangan, struktur dan kandungan penyata kewangan Yayasan, termasuk pendedahan, dan sama ada penyata kewangan mewakili transaksi sandaran dan peristiwa dengan cara yang mencapai pembentangan saksama.
Kami berkomunikasi dengan Ahli berkenaan, antara lain, skop yang dirancang dan masa audit serta penemuan signifikan audit, termasuk sebarang kekurangan dalam kawalan dalaman yang kami kenal pasti semasa audit kami.
177 Yayasan Laporan Kewangan 2 0 2 1 Yayasan Laporan Kewangan (Ditubuhkan di bawah Akta Laporan Kewangan 1997) LAPORAN JURUAUDIT BEBAS KEPADA AHLI YAYASAN LAPORAN KEWANGAN (SAMBUNGAN) Laporan Mengenai Audit Penyata Kewangan (sambungan) Hal-hal Lain Laporan ini disediakan khas untuk Ahli Yayasan secara keseluruhannya, menurut peruntukan Akta Laporan Kewangan 1997 di Malaysia dan bukan atas tujuan lain.

Kami tidak bertanggungjawab ke atas mana-mana pihak bagi kandungan laporan ini.
RSM Malaysia PLT 202206000002 (LLP0030276-LCA) & AF 0768 Akauntan Bertauliah Kuala Lumpur 8 Mac 2022 2 0 2 1 Yayasan Laporan Kewangan 178 Yayasan Laporan Kewangan (Ditubuhkan di bawah Akta Laporan Kewangan 1997) Muka surat ini sengaja dibiarkan kosong UNIT 13A - 1, MENARA MBMR, NO.

1, JALAN SYED PUTRA, 58000 KUALA LUMPUR TEL : (603) 2273 - 3700 FAX : (603) 2273 - 9400 EMAIL : masb@masb.org.my WEBSITE : www.masb.org.my UNIT 13A - 1, MENARA MBMR, NO.
1, JALAN SYED PUTRA, 58000 KUALA LUMPUR TEL : (603) 2273 - 3100 FAX : (603) 2273 - 9400 EMAIL : masb@masb.org.my WEBSITE : www.masb.org.my